Sberbank and Alfa Bank, in Russia, are offering cryptocurrency investment products to their customers. As a result, their customers are able to create a diversified portfolio of cryptocurrencies as well as other blockchain-based tokens. The exchanges which these banks are using are Kraken and Bitstamp. The banks are providing the services with conjunction with Bank of Russia.
According to the report, they will be dealing in 6 different cryptocurrencies. As a result, diversified cryptocurrency investing will be possible for the customers of the bank. Both of these can be counted among the largest banks in Russia. That is why such a service by the largest banks is indeed a positive move for the cryptocurrency world.
According to the bank manager of Alfa Bank, Anton Rakhmanov, they are trying to make their customers more aware of the cryptocurrency investments which they can initiate. Moreover, they are also trying to spread the word out about digital assets. They are also educating their customers that these digital assets are completely legit.
Most of the other banks around the world are just ignoring cryptocurrencies. They do not provide investment services to their customers when it comes to cryptocurrencies. However, these 2 banks are a step ahead. As a result, they are able to provide proper investment services to their consumers. The consumers are also able to invest a significant amount of money without any issues. As the service is provided by the bank itself, the trust is also on the higher side.
The custodian for these investments is the national settlement depository. As a result, customers do not have to worry about their cryptocurrency Holdings. Their cryptocurrency Holdings will remain safe always.
Even though the banks have not yet publicly disclosed about these investment services which are provided but it is an open secret. Many of the consumers are already using the services in order to invest in cryptocurrencies.
As more and more banks start providing such services, it will indeed become easier for the investors to take part and invest in cryptocurrencies. As cryptocurrency investing becomes more and more popular, it will, in turn, become easier for the banks to generate higher volumes as well. With the help of right cryptocurrency exchange partners, banks will be able to provide even more investment avenues to the customers. This will be a win-win situation for the banks as well as for the normal cryptocurrency holders.