Popular Dutch bank ING is reportedly working on the development of a custody solution for storing bitcoins and other digital assets, Reuters has reported citing several sources.
This new project, which aims to offer the bank's customers a custody service for crypto assets, is still in its initial stage and is being managed from Amsterdam.
According to sources, this is just one of the bank's many initiatives related to cryptos' underlying tech.
ING representatives have highlighted the bank is interested in developing blockchain and crypto-related solutions in order to offer customers the possibility of interacting with these types of assets.
It must be noted that other financial institutions are also launching their own custody services. For example, the crypto division of financial company Fidelity Investments has launched a platform for storing digital assets.
There are many companies that offer crypto custody services. Just as an example, last month iHodl reported that popular derivatives platform Bakkt had launched its own custody service, which is available to all institutional investors.
In September, iHodl reported that Gemini, the cryptocurrency exchange owned by the Winklevoss brothers, had released Gemini Custody, its own custody service.