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Daniel Blatter, Head Digital Services InCore Bank and Markus Abbassi, Head Digital Assets Kaleido Privatbank (from left to right)

Corporate News

Kaleido Privatbank relies on InCore Bank's Digital Asset Services

The close cooperation with InCore Bank is being further expanded: Kaleido now also relies on InCore Bank's Digital Asset Services in addition to all classic banking services – thus complementing its range of offerings with attractive services related to digital assets.

Download PDF: Press Release (EN), Press Release (DE)
View on: Finews (DE), Moneycab (DE), fintechnews (EN), Crypto Valley Journal (DE), Crypto Valley Journal (EN), Bitcoin News ​​​​​​​(DE)

After six months of preparation, banking service provider InCore Bank and IT service provider SOBACO took over the handling of business processes as well as transaction banking for Kaleido Private Bank in mid-2021. Only one year later, the boutique bank opted for the additional integration of InCore Bank's Digital Asset Services.

One solution for digital and traditional

As a member of the largest Swiss private banking hub, Kaleido benefits from full outsourcing of technical and banking tasks: Both digital asset services and traditional business are handled on a bank- and order-specific basis in an integrated, efficient end-to-end process. Outsourcing the services to InCore Bank allows the banks to concentrate on individual customer consulting and focus on strategic issues – the long-term development of organization, products and services increasingly includes dealing with digital assets.

Importance recognized early

The importance of digital assets is increasing significantly, new offerings are being launched regularly – and there is no end in sight to this development. Many experts are convinced that digital assets such as cryptocurrencies, but also digitized, or tokenized assets, belong in a diversified portfolio. However, the integration of digital assets is associated with major technical and financial, regulatory and procedural challenges. As a transaction bank, InCore Bank has been intensively dealing with all facets of digitalization at the forefront for years. The pure business-to-business bank received approval for the trading, custody, transfer and creation (tokenization) of digital assets as early as May 2020 – making InCore Bank one of the innovation leaders in terms of integrated solutions for efficient, secure access to digital assets.

Third customer from the Private Banking Hub

Although the demand for both full outsourcing and digital assets is increasing, InCore Bank and SOBACO are the exception in the Swiss market with their combination in terms of a one-stop shop.  «Our offering meets a market and customer need», Daniel Blatter knows. «With Kaleido Private Bank, the third renowned financial institution from our Private Banking Hub has opted for our Digital Asset Services in a very short time – in addition to various other financial institutions that benefit from this offer», says the Head Digital Services of InCore Bank. The solution, which is seamlessly integrated into core banking and banking processes, gives banks and their clients the ability to trade a wide variety of cryptocurrencies and tokens 24/7 and benefit from a highly secure Swiss custody solution «Digital assets have found their place in the investment universe of many investors», summarizes Markus Abbassi, Head Digital Assets at Kaleido: «Their importance in the market is growing, as is the demand from our clients. We are convinced that we are only at the beginning of a development with many exciting opportunities. For us, it was obvious to take this step forward together with InCore Bank. With our decision for the Private Banking Hub and Digital Asset Services, we have laid a solid foundation».