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Exclusive: ING Working on Digital Assets Custody Technology – Sources

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Exclusive: ING Working on Digital Assets Custody Technology - Sources

NEW YORK (Reuters) –

Dutch bank ING is working on developing technology to help clients safely store digital assets, according to people familiar with the matter.

The custody project, which is being run out of Amsterdam, is still in its early days and is one of the bank’s several initiatives around blockchain, the technology underlying cryptocurrencies, the sources said. […]

Many large financial firms are hoping that traditional assets such as bonds or stocks can be turned into digital assets and be issued and transferred using blockchain technology. They believe this could help streamline and reduce costs in some complex capital market processes.

Others have started offering custody of cryptocurrencies like bitcoin and ether, or announced their intention to do so. […]

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