On Tuesday 26th 2021, Zurich-based Crypto Finance Group announced that it has partnered with Avaloq, one of the major banking IT providers. Through the partnership, Crypto Finance Group can now offer its trading solutions directly to private banking clients.
The solution aims to enable financial institutions to offer a seamless digital experience for retail banking, wealth management and more. Crypto Finance supports Avaloq in implementing fully integrated crypto asset solutions for their banking customers. Specifically, this means that the corresponding private banks and their clients can now execute trading, settlement and custody of cryptocurrencies and digital assets directly through the core banking system.
Jan Brzezek, CEO and founder of Crypto Finance Group, said, “We are excited to work with Avaloq and their banking clients through this collaboration to bring crypto assets to professional banking with a simple, secure and quickly implementable solution.”
Integration into core banking systems: a signal of increasing maturity in the crypto asset markets
This new development marks an important milestone for the establishment of crypto assets in the financial markets. This evolution has been triggered by a growing number of professional investors who consider Bitcoin as a store of value. This is evidenced by numerous announcements from listed companies and traditional asset managers who have invested in Bitcoin over the past year. This trend is now continuing with the partnership between Avaloq and Crypto Finance, which will integrate crypto assets into a core banking platform already used by over 150 financial institutions in 30 countries.
Avaloq has already successfully implemented the brokerage solution for various banking customers, according to the statement.
Source: Press Release Crpyto Finance Group