Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
The well known Canadian financial institution Versabank has announced itĀ is in the midst of building a new vault initiative for customers so they can securely store digital assets. Versabankās latest creation will be called, āVersavault,ā a platform focused on storing all kinds of digital properties including cryptocurrencies, but with the security and trust that comes with a Canadian chartered bank.
Also Read: Analyst: IOTA Sharply Overvalued Due to āOverwhelming Evidence of Serious Flawsā
Versabank: āDigital Assets Are Just As Valuable As Any Family Jewelry, Property Deed or Stock Certificateā
This week the branchless Canadian financial management service, Versabank, has announced the creation of its new product VersavaultĀ ā a safety deposit box specifically designed to house cryptocurrencies and a variety of other digital properties. Versabankās new offering will be blockchain-based, encrypted, and claims to be an āimpenetrable security solution.ā
āYour digital assets are just as valuable as any family jewelry, property deed or stock certificate, but protecting them isnāt nearly as simple,ā explains the bankās new product.
Versavault is the solution your digital wealth has been waiting for: the impenetrable security and absolute privacy of blockchain encryption, created and managed by a chartered bank in one of the worldās most trusted financial markets.
Versabank Founder Thinks Banks Can Add a Sense of Trust to Cryptocurrency Storage
Versabank has always been focused on innovation since it decided to become a branchless technology-based banking institution. The founder of the bank, David Taylor, created the branchless platform, and in 2013 Versabank became Canadaās 10th largest publicly traded bank. Taylor believes incumbent financial institutions can add a sense of trust to the cryptocurrency ecosystem when it comes to securing valuable digital assets. Ā Ā Ā Ā Ā Ā Ā Ā Ā
āBitcoin and other cryptocurrencies are quickly gaining popularity and holders have already experienced their valuable holdings vanish from the less secure ādigital storageā options,ā explains Taylor during Versabankās announcement. Ā
Banks have always been known as the safest place to store physical valuables and it is our aim to make Versavault the safest place to secure your digital valuables, with absolute privacy.
The founder and president of Versabank, David Taylor believes cryptocurrency holders should store their digital property with a bank.Ā
Versabank Joins the Many Other Firms Building Secure Storage Solutions for Institutional and Individual Digital Currency Investors
Versabank follows the many other financial firms and wealth management services offering to provide better security for institutional and individual investors digital savings. Just this week the blockchain company Metaco and the data security agency Guardtime revealed their new storage solution for cryptocurrencies called āSilo.ā Further, the well-known cryptocurrency brokerage service Coinbase has also launched āCoinbase Custody,ā a digital vault for institutional investors.
What do you think about the Canadian financial institution Versabank offering a cryptocurrencies vault for their customers? Let us know in the comments below.
Images via Pixabay, and Versabank Canada.
Want to create your own secure cold storage paper wallet? Check our tools section.Ā
The post Canadian Financial Service Versabank Launches Digital Asset Vault appeared first on Bitcoin News.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.