A new industry standard for digital asset management: banks including Vontobel and Pictet have joined an industry association to establish the new assets custody standard.
Industry group Capital Markets and Technology Association (CMTA) has launched a standard for digital tokens and coins. The Digital Assets Custody Standard (DACS) will introduce a set of common principles for the management, trading and custody of crypto-assets.
«The launch of the “Digital Assets Custody Standard” represents a key milestone, as it is the first initiative of the Swiss financial industry to agree on a common standard for custody and management of digital assets,» said Fedor Poskriakov, general secretary of the CMTA. «This will greatly contribute to the emergence of fully digital capital market infrastructures, including integrated custody and secondary trading venues.»
Gaining Traction in Crypto-Community and Banking
The association was launched by Swissquote, Switzerland’s largest online bank, Lenz & Staehelin law firm, and Temenos, the banking software maker based in Geneva. EPFL Lausanne was the scientific representative.
Since its launch, the association has been able to gain traction and attracted new sponsors, which will help establish the digital asset standard.
Members from the crypto industry are: Aton Râ Partners, Crypto Finance, Mt Pelerin, Sygnum and Taurus. Following banks are members: Vontobel, Pictet, Lombard Odier, UBP and Reyl. Further law firms that participate are Niederer Kraft Frey and Ochsner & Associés.
