The Swiss subsidiary of Gazprombank has announced plans to create a platform to manage crypto assets by mid-2019, the year, concluding a partnership agreement with FINTECH companies Avaloq and Metaco.

The system was created “to manage the portfolios of clients with all types of assets, including bitcoin and other cryptocurrencies,” says the press release:

“Gazprombank (Switzerland) who is already a client, Avaloq, intends to offer cryptocurrency services to its customers in mid-2019, the year”

Blockchain company Metaco will be responsible for core technology for the future service, custodial solution called SILO, which later will be implemented in the banking product Avaloq used by such major financial institutions as HSBC, Barclays and Royal Bank of Scotland.

Thus, in the next year, Gazprombank may run the platform of cryptocurrency services, which, according to developers, will not require the creation of a cryptocurrency wallet or control the private key.

In addition, the press release notes that in the decision it is planned to introduce the module Hardware Security Module, to ensure a high level of security for processing and storage of necessary information.

Says serial entrepreneur Vladislav Kiselev, “the banks no longer consider cryptocurrencies as a threat, and begin to use them”:

“I believe that in the future we will see more banks are adapting the new technologies to be the wave of the modern cryptocurrency trends”

In June, Gazprombank, MegaFon, rostec and USM Group have formed a joint venture “MT Technology” (MFT) which will develop projects in the field of digital economy, IoT and blockchain.

At the end of March, the Chairman of the Board of Gazprombank Alexander Sobol said that the Swiss branch of the Bank plans to make its first pilot transaction using crypto-currencies as means of payment, with the participation of the subsidiary in Switzerland. Also at the end of last year, corporate venture Fund of Gazprombank, GPB Digital, invested $ 120,000 in the tokens platform Aximetria.