Russian Bank Gazprombank to Offer Bitcoin. Russian Bank Gazprombank to Offer Bitcoin.

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Russian Bank Gazprombank to Offer Bitcoin.

updated on:2 Nov 2020

Russian Bank Gazprombank to Offer Bitcoin.

Gazprombank has opened its crypto business to slected clients.


The Swiss arm of Gazprombank is open for crypto banking. But this bank's crypto currency availability is for slelcted clients. The Swiss arm of Gazprombak only
offer Bitcoins.

The Swiss arm of one of Russia’s largest banks  announced on 29th OCT that it would offer crypto custodian and Bitcoin exchange services to the businesses and institutions it counts as customers.In an announcement Thursday, the regulated Swiss arm of the bank said it has now received authorization from FINMA to launch the new services, initially to a limited number of clients.

Gazprombank (Switzerland) will later expand the offerings to more institutional and corporate clients, providing a custody service and bitcoin (BTC, +0.55%) trading against fiat currencies. They will add more digtal crypto currency later on.

"We expect digital assets to become increasingly important in the global economy and, in particular, for our current and potential clientele," said the bank's CEO, Roman Abdulin.

Gazprombank said that the advantage to clients is cryptocurrency liquidity, reduction of counterparty risk (FINRA regulated bank beats crickethead99 on LocalBitcoins.com), and security.

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