Canadian Bank Announces Digital Safety Deposit Box for Crypto Exchanges and Investment Funds12.39

VersaBank, formerly Pacific & Western Bank of Canada, announced one of its subsidiaries has completed beta testing for its digital safety deposit box and is now entering the commercialization phase, which will include the offering of digital safe keeping as well as multi signature services for cryptocurrency exchanges and crypto-based investment funds.

The testing phase of the company’s digital safety deposit box was conducted to ensure the product’s design would meet the specific requirements of cryptocurrency exchanges and crypto funds. Target clients tried VersaVault’s capabilities, including its technologically advanced digital, cyber-security solutions, and privacy settings. David Taylor, President and CEO of VersaBank and its subsidiary, VersaVault, claims the product cannot ‘drill’ into a client’s digital safety deposit box nor can look inside, giving full privacy to the customer.

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