More and more banks will expose their clients to cryptocurrencies. ING is no different, as it too is working on custodial services for digital assets.
This news isn’t entirely surprising, as banks continue to struggle to turn a profit.
A new Plan for ING Bank
Introducing new products and services is the only way forward in this modern era.
For Dutch bank ING, venturing into the digital asset industry makes a lot of sense.
By providing custodial services, the bank can use its existing expertise to provide a convenient service.
For now, there aren’t too many details known about this new digital asset project.
ING has not indicated that there is an official timeline, indicating that the project is probably still in the early days.
Over the years, ING has shown a keen interest in exploring blockchain technology.
It is only normal that, by extension, the institution focuses part of that research on custodial digital asset management.
Now that German banks can legally provide similar services, it is believed that banks in other countries will explore options in this industry as well.
Despite the convenience factor, services like there aren’t necessarily in the best interest of clients.
If they relent control of their digital assets, they willingly part with the empowerment associated with digital assets and blockchain technology.
Not one’s keys, not one’s digital assets, after all