The bank clients will be able to store and trade digital assets via a subsidiary next year
Starting 2021 Basler Kantonalbank, a state-backed lending institution, will be offering bitcoin investments via its subsidiary, Bank Cler. This is the first time when a government-backed financialinstitution is probing its way into the cryptocurrency territory.
Bank Clear spokeswoman Natalie Waltmann said that in the future the parent company also plans to provide similar services to its own clients. But before taking a step further the service should be tried out at Bank Cler, the “digital competence center” of the company.
Earlier, the US national banks were given permission to keep the cryptographic wallets keys by the Office of the Comptroller of the Currency (OCC), a department under the US Treasury. The agency’s letter stated the banks could provide more secure custodial solutions than those available on the market.
