Offering Blockchain Digital Assets Custodial Services to Our Clients Makes Most Sense, Says Investec Private Bank of South Africa

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At the just concluded Blockchain Africa Conference 2020, Investec Private Bank, a leading South African private bank, has announced that it will soon be offering blockchain custodial services of digital assets to its clients.

Speaking at the conference, Chris Becker, Blockchain Lead, Investec Private Bank, said:

“Our blockchain team has been extremely busy over the last 3 years building the right products that one would expect from an innovative bank like ours, but products that would be most utilized and make the most sense.

We believe offering custodial services of digital assets for our clients is indeed what makes the most sense.”

SEE ALSO5 Proposed Recommendations to Expect from the Upcoming Regulatory Framework by the South African Reserve Bank

Investec is looking to reintroduce the custodial service that banks were once popular for, but of the new kind of asset: the digital asset of the blockchain future.

As part of this goal, Becker revealed that the bank has been hard work building the product and has also been working with exchanges and numerous on and off ramps in South Africa to find the most secure, efficient, user-friendly, and trustworthy approaches.

While the blockchain product launch was not announced, and the product announcement video is unvailable due to intellectual property violations, it is clear the bank is looking to push it across both traditional and more tech-savvy investors interested in new asset classes and investment options.

 

NB: BitcoinKE has reached out to Chris Becker for updates on the product and we shall update you once we receive feedback.

 

 

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