The Canadian bank opens a safe deposit box for cryptocurrency companies


A Canadian bank says its digital safe is ready for the early evening.

VersaBank announced on Thursday that its new VersaVault project successfully completed beta tests. The digital only bank plans to offer the virtual lockbox to cryptocurrency grants and encrypted investment funds to store digital assets.

VersaBank's investor relations manager Wade MacBain told CoinDesk that the bank has already received more than 200 requests for information on VersaVault.

In a statement, VersaBank CEO David Taylor added:

"While many are considering ideas and plans for a digital safe, we have designed and built and are marketing a first service of this kind that provides our customers with the most sophisticated security and authentication technology available globally , in which our customers enjoy absolute privacy. "

The product was announced for the first time in January 2018 and the bank, the smallest of Canada's assets, signed two beta players in March.

VersaBank enlisted in Gurpreet Sahota, formerly the leading cybersecurity architect at the smartphone maker Blackberry, to lead the project in January.

"Bitcoin and other cryptocurrencies are rapidly gaining popularity and owners have already experienced that their precious holdings vanish from the less secure" digital storage "options," the bank said in a statement at the start of this year.

Image of the safe box using Shutterstock

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