Media: United Overseas Bank will open a cryptoasset storage service

United Overseas Bank, based in Singapore, is developing a solution for storing digital instruments, according to The Block.

At the moment, the credit institution has opened a vacancy for a “crypto security administrator”, whose main functions will include managing crypto keys, as well as creating a centralized management system for them. In addition, the applicant must have knowledge in the field of payment networks, including tokenization, encryption standards.

Representatives of the publication believe that the policy of United Overseas Bank is related to the actions of a competitor – DBS Bank, which announced its intention to launch a platform and a service for storing such assets. At the moment, the decisions are going through the stage of discussion by the regulatory authorities.