ING working on digital assets custody technology

Dec 11, 2019😃Bullish

NEW YORK (Reuters) - Dutch bank ING (INGA.AS) is working on developing technology to help clients safely store digital assets, according to people familiar with the matter.

ING "sees increasing opportunities with regard to digital assets on both asset backed and native security tokens," the bank said in a written statement to Reuters.

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.

The project comes as established financial companies look into offering custody and other services for both cryptocurrencies such as bitcoin, as well as other types of digital assets.

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