Santander appoints crypto custodian Taurus to guard Bitcoin, Ether: Report

Spanish financial services giant Banco Santander has apparently selected digital asset management firm Taurus to guard its Swiss clients’ Bitcoin (BTC) and Ether (ETH).

On November. 20, Santander Private Banking International’s Swiss private banking unit folded out a brand new Bitcoin and Ether buying and selling service for clients with Swiss accounts. A Santander spokesperson told Cointelegraph that clients will obtain access to crypto investment services once requesting it through relationship managers.

A CoinDesk report citing “a person acquainted with the arrangement” mentioned the bank had hired crypto child custody firm Taurus for that safekeeping from the crypto assets. Cointelegraph arrived at out for confirmation from Santander, which declined to comment, saying:

“Unfortunately, it’s a no comment. We don’t discuss providers or possible providers.”

On Sept. 14, Taurus partnered with German banking giant Deutsche Bank to supply cryptocurrency child custody choices to its customers.

Taurus didn’t immediately react to Cointelegraph’s request comment.

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Although some banks make use of existing players for custodial needs, DZ Bank — the 3rd largest bank in Germany by asset size — launched its very own digital assets child custody platform built on blockchain.

Holger Meffert, mind of securities services and digital child custody at DZ, expressed the bank’s curiosity about distributed ledger technology. The financial institution also wishes to offer institutional investors and customers the ability to purchase cryptocurrencies, “such as Bitcoin,” later on.

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