Canadian Bank Opens Deposit Box for Cryptocurrency Firms
Bank of Canada says digital safety boxes are ready for prime time.
VersaBank announced on Thursday that the new VersaVault project has successfully completed beta testing. Digital private bank plans to provide a virtual lockbox for password lock exchange and password investment funds to store digital assets.
VersaBank Investor Relations Director Wade MacBain told CoinDesk that the bank had already received more than 200 inquiries about VersaVault.
In a statement, VersaBank CEO David Taylor added:
"While many people are considering ideas and plans for digital safe deposit boxes, we have designed and built them and are commercializing the first service to offer our customers the most sophisticated security and authentication technologies around the world. You can enjoy personal information. "
This product was first announced in January 2018, and the smallest of these assets in Canada was signed by two beta users in March.
VersaBank re-elected Gurpreet Sahota, formerly the chief architect of cyber security at Blackberry's smartphone maker, in January.
"Bitcoin and other Crypto calls are quickly gaining popularity, and holders have already annuled precious assets in a less secure" digital storage "option," the bank said in a statement earlier this year.
Image of safe deposit box with Shutterstock
CoinDesk, a leader in block-chain news, is a media outlet that pursues the highest standards of journalism and adheres to strict editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in cryptocurrencies and block-chain startups.
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