Canada's Versa Bank to provide safety deposit box for crypto currencies

Source: Versa Bank

VersaBank is pleased to announce that its subsidiary, VersaVault, has successfully completed beta testing for its previously announced digital safety deposit box and is initiating commercialization of its services.

The first phase of the rollout will be to provide digital safe keeping as well as multi signature services for cryptocurrency exchanges and crypto based investment funds.

The beta testing, conducted with our initial target client base, focused on ensuring VersaVault’s design would meet the specific requirements of cryptocurrency exchanges and crypto funds. Furthermore, it focused on designing a seamless, efficient and timely experience for our clients, but one which maintained the unique features of the VersaVault; providing our clients with the most technologically advanced digital and cyber-security solutions while maintaining their absolute privacy. VersaVault does not have the ability to ‘drill’ into a client’s digital safety deposit box, nor does it have the ability to look inside, only the client has the capability to access their digital valuables and only they know of their contents inside.

David Taylor, President and CEO of VersaBank and its subsidiary, VersaVault, stated: “I am just delighted with the successful results of our strenuous beta testing. While many are considering ideas and plans for a digital safety deposit box, we have designed and built it, and are now commercializing a first of its kind service that provides our clients with the most sophisticated security and authentication technology available globally, in which our clients enjoy absolute privacy. The VersaVault will now begin rolling out services to cryptocurrency exchanges and crypto investment funds.”
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