Russian Energy Giant Performs First Bitcoin Transaction in Switzerland

Gazprombank (Switzerland), a branch of the bank owned by the Russian energy giant Gazprom, carried out the first customer transactions as part of the new Bitcoin services.

It was announced on Tuesday that the bank will launch corporate cryptocurrency services. After the approval of the Swiss Financial Market Supervisory Authority, the transactions officially started. The bank’s CEO, Roman Abdulin, said:

Digital assets will become increasingly important to our customers and the global economy.

Cryptocurrency services, including cryptocurrency accounts, investment management and asset custody, have been developed in partnership with fintech firm Avaloq and digital security infrastructure provider METACO.

Gazprombank (Switzerland) said it is also a member of the OpenVASP association, which aims to develop an open protocol for the transfer of transaction information between virtual asset service providers (VASPs) and individuals. This study aims to facilitate the compliance of cryptocurrency services with the regulatory guidance of the Financial Action Task Force, including the travel rule.

According to the announcement jointly with Swiss crypto-finance firm Bitcoin Suisse, the bank is working on a uniform communication protocol for digital asset payments among OpenVASP members.

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