Valiant Bank, a prominent Swiss financial institution, just announced its entry into the digital asset market. This milestone comes as a result of the strategic partnership between Entris Banking AG and InCore Bank AG inked last year. The bank is the first among the Entris Banking Group to launch cryptocurrency trading and custody services. With a mission to simplify digital asset investment for private customers, this development signifies another positive swing towards Switzerland’s crypto adoption goals.
Swiss Banking Sector Embraces Crypto
As the financial world witnesses the rapid rise of digital assets, traditional banking institutions are increasingly recognizing the potential and importance of integrating cryptocurrency services. In a joint effort, InCore Bank and Entris Banking forged a collaboration in December 2022, specifically aimed at exploring the world of digital assets.
With the successful integration into the InCore Bank platform, the Entris Banking customer banks, starting with Valiant, are now equipped with access to the realm of Digital Assets according to a report.
The Regulatory Approval
Valiant’s pioneering move, however, is not without the necessary regulatory approvals. As the first bank within the Entris Banking Group, Valiant has received approval from the Swiss Financial Market Supervisory Authority (FINMA) for distributing digital assets.
This endorsement provides a strong foundation for Valiant Bank’s crypto offering, ensuring it adheres to the strictest regulatory standards and reinforces trust among its clients.
Seamless Integration into the Existing System Landscape
One of the major strengths of Valiant Bank’s new crypto services is the seamless integration into its existing system landscape. By connecting to the InCore Bank platform, the processes are now automated, highly efficient, and on par with the handling of traditional assets.
This user-friendly approach encourages private clients to explore the world of digital assets confidently and effortlessly.
Collaborative Synergy for Client Benefit
The success of this venture lies in the effective partnership between InCore Bank and Entris Banking, each bringing their expertise to the table. While InCore Bank serves as a technical provider and B2B partner in the digital assets sector, Entris Banking acts as a service provider for small and medium-sized Swiss banks.
The collaboration proved to be highly efficient during the project, resulting in a robust offering that resonates with Valiant Bank’s clientele.
A Vision for the Future
InCore Bank CEO Mark Dambacher envisions an exciting future for digital assets in the banking industry. As a regulated B2B transaction bank and a pioneer in the digital asset space, InCore Bank is committed to supporting partners with innovative “plug & bank” solutions.
The successful collaboration with Entris Banking and the promising project with Valiant Bank have spurred the drive to further expand their distribution activities. Dambacher and his team eagerly anticipate onboarding more client banks with an affinity for digital assets in the near future.
Final Thoughts
Valiant Bank’s integration of crypto services is a testament to the ongoing evolution of the Swiss banking sector. By partnering with InCore Bank and Entris Banking, Valiant has taken a significant step towards offering its private clients an accessible gateway into the digital asset market. This pioneering move not only demonstrates the growing acceptance of cryptocurrencies in the financial world but also positions Switzerland as a forward-thinking player in the global crypto landscape.
With regulatory approval, seamless integration, and collaborative synergy, Valiant Bank is poised to set new standards for crypto access in Switzerland, empowering its clients to explore and invest in digital assets with ease.