Virtual plunge: A Bitcoin logo is seen on a cryptocurrency ATM in Santa Monica, California, in the US. VersaBank is building its vault as Bitcoin plunged below US7,000 on Monday for the first time since November. — Reuters
TORONTO: VersaBank Inc, a tiny Canadian lender led by a tech-savvy CEO with a penchant for planes and classic motorcycles, is building a virtual safety deposit box for cryptocurrencies and other digital assets.
The firm is taking the lead in a global banking industry that’s been reluctant to venture into most things crypto. The London, Ontario-based bank plans to have its digital vault ready by June and offer the service to global customers.
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