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Canadian Bank Set to Launch Uncheckable’Deposit Box’ to Get Cryptocurrency

A subsidiary of Canadian bank VersaBank has finished beta testing of its solution, which aims trades and crypto funds as clients.
A subsidiary of Canadian financial institution VersaBank affirmed it had completed beta testing using a “digital vault” for keeping cryptocurrency in a media release Nov. 8. VersaVault, which declared its so-called “digital safety deposit box” in February, is aiming to attract crypto funds and exchanges as clients for the new tool.The merchandise provides cryptocurrency storage on servers sprinkled through the planet, the deposit box element lying in the fact that the bank itself can brute force that the digital ‘containers ’ nor understand their contents. “While many are considering thoughts and strategies to get a digital security deposit box, we’ve designed and built it, and so are currently commercializing a first of its kind support,” David Taylor, president and CEO of VersaBank and VersaVault commented in the media release, adding:“…The VersaVault will today begin rolling out services to cryptocurrency trades and crypto investment funds. ”The movement carries the relatively unknown VersaBank along the identical trajectory as many players in Europe.As Cointelegraph documented, Lichtenstein’s Bank Frick published chilly storage of cryptocurrency funds as part of its in-house supply earlier this season, although fellow establishment Union Bank declared a sail to become entirely focused on cryptocurrency and blockchain from August.The heavyweights of all cryptocurrency storage still reside within the industry itself, associations making use of services such as Xapo’s storage from Swiss vaults. […]

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