IMF Vows to Continue ‘Devoting Attention’ to Blockchain, Cryptocurrency in Fintech Drive

The International Monetary Fund (IMF) said it plans to use its ongoing research and experimentation with blockchain as an “anchor” for its future policy on the technology in comments Nov. 12. Speaking on a panel with Ripple CEO Brad Garlinghouse during the Singapore Fintech Festival 2018, IMF Deputy General Counsel Ross Leckow highlighted three areas the organization has been “active” in regarding blockchain, cryptocurrency and more. “The IMF is devoting a lot of attention to fintech and in particular to blockchain,” he told the audience, continuing: “But we think that…

Canadian Bank Opens Deposit Box for Cryptocurrency Firms

A Canadian bank says its digital safety deposit box is ready for prime time. VersaBank announced Thursday that its new VersaVault project had successfully completed beta testing. The digital-only bank plans to offer the virtual lockbox to cryptocurrency exchanges and crypto investment funds to store digital assets. VersaBank Director of Investor Relations Wade MacBain told CoinDesk that the bank has already received over 200 inquiries about VersaVault. In a statement, VersaBank CEO David Taylor added: “While many are considering ideas and plans for a digital safety deposit box, we have designed…

Canadian Bank Set to Launch Uncheckable ‘Deposit Box’ for Cryptocurrency

A subsidiary of Canadian financial institution VersaBank confirmed it had finished beta testing of a “digital vault” for storing cryptocurrency in a press release Nov. 8. VersaVault, which announced its so-called “digital safety deposit box” in February, is aiming to attract crypto exchanges and funds as clients for the new tool. The product provides cryptocurrency storage on servers dotted throughout the world, the deposit box element lying in the fact the bank itself can neither brute force the digital ‘boxes’ nor know their contents. “While many are considering ideas and…