Canadian Bank Completes Testing Its Digital Vault for Cryptocurrencies

November 12, 2018

The Canada-based VersaBank’s affiliate division, VersaVault, has finished tests of its own digital vault for cryptocurrencies, as was reported in the company’s latest media release.

According to the report, the basic objective for the project will be attracting customers like crypto exchanges and crypto funds.

Digital currencies are supposed to be stored at servers located across the world and structurally resemble bank deposit boxes. Thus the data on available coins will be provided for clients alone.

“While many are considering ideas and plans for a digital safety deposit box, we have designed and built it, and are now commercializing a first of its kind service. The VersaVault will now begin rolling out services to cryptocurrency exchanges and crypto investment funds,” said David Taylor, CEO of VersaBank and VersaVault.

In addition, early this year Lichtenstein’s Bank Frick began providing services for cold storing of crypto savings.

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