Santander Appoints Crypto Guardian Taurus To Protect Bitcoin, Ether: Report
Spanish financial services giant Banco Santander has reportedly chosen digital asset management firm Taurus to protect its Swiss clients' Bitcoin (BTC) and Ether (ETH).
In the year On November 20, the Swiss private banking division of Santander Private Banking International launched a new Bitcoin and Ether trading service for customers with Swiss accounts. A spokesperson for Santander told Cointelegraph that clients can access crypto investment services only after requesting through contact managers.
A CoinDesk report, citing a “person familiar with the arrangement,” said the bank has appointed a crypto custodian firm Taurus to protect its crypto assets. Cointelegraph obtained confirmation from Santander, which declined to comment, saying:
“Unfortunately, no comment. We do not comment on suppliers or potential suppliers.
On September 14, Taurus partnered with German giant Deutsche Bank to offer its customers cryptocurrency storage options.
Taurus did not immediately respond to Cointelegraph's comment.
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While some banks are tapping existing players for custodial needs, DZ Bank – Germany's third largest bank by assets – has launched its own digital asset custody platform built on blockchain.
Holger Meffert, Head of Securities Services and Digital Protection at DZ, expressed the bank's interest in distributed ledger technology. The bank hopes that institutional investors and private customers will be able to buy cryptocurrencies in the future.
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