Santander appoints Taurus as its crypto custodian to safeguard Bitcoin and Ether for future web 3.0 banking.
Santander appoints crypto custodian Taurus to safeguard Bitcoin, Ether: Report

Crypto Custody via Banco Santander and Taurus

Banco Santander, a Spanish financial services giant, has chosen Taurus, a digital asset management firm, to protect the Bitcoin (BTC) and Ether (ETH) of its Swiss customers. On Nov. 20, Santander Private Banking International’s Swiss private banking unit launched a new crypto trading service for clients with Swiss accounts, which can only be accessed upon request by relationship managers.

According to a CoinDesk report citing an anonymous source, the bank has appointed Taurus to provide crypto custody services. Cointelegraph contacted Santander for confirmation, but the bank declined to comment.

On Sept. 14, Taurus partnered with Deutsche Bank to offer cryptocurrency custody solutions to its customers in the web 3.0 blockchain space. This could potentially be the future of blockchain projects in 2021 and 2022.

The Future of Web 3.0 and Blockchain

Taurus did not immediately respond to Cointelegraph’s request for comment.

DZ Bank, the third largest bank in Germany by asset size, has taken an interest in distributed ledger technology and launched its own digital assets custody platform built on blockchain. Holger Meffert, head of securities services and digital custody at DZ, expressed the bank’s ambition to offer institutional investors and private customers the facility to buy cryptocurrencies, “such as Bitcoin,” in the future.

The future of web 3.0 banking and blockchain projects is highly anticipated, with many wondering if web 3.0 is the future and if blockchain is web 3.0. AI technology and web 3.0 are closely intertwined, and many projects are already underway to bring blockchain and AI technology together in 2021 and 2022.

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