Myandbank launches regulated Bitcoin and Ethereum services with Prosegur Crypto
Andbank’s digital arm Myandbank lets Andorran clients buy, trade and hold BTC and ETH via Prosegur Crypto custody and Minos Global brokerage under.
Key Points
- Myandbank offers BTC and ETH trading and custody to Andorran residents in partnership with Prosegur Crypto.
- Tokenized assets are held under Prosegur Crypto’s institutional custody protocols to reduce operational and cybersecurity risk.
- Trading and regulated brokerage are provided by Minos Global, aligned with AML/CFT standards and local regulation (Law 24/2022).
- Pricing: 0.50% buy/sell and 0.50% annual custody; partners plan a second phase to add more digital assets.
This month Myandbank, the digital arm of Andbank, began offering clients resident in Andorra the ability to buy and hold Bitcoin (BTC) and Ethereum (ETH) through a service launched in partnership with Prosegur Crypto. The rollout follows Prosegur Crypto’s receipt of a licence to operate with cryptoassets in the Principality under Law 24/2022.
Tokenized digital assets acquired by clients are held under Prosegur Crypto’s institutional custody protocols, designed to reduce operational and cybersecurity risks. The operational integration lets customers trade and hold cryptoassets directly from their Myandbank banking environment without needing external platforms or intermediaries.
Trading and custody are supported by a regulated brokerage service provided by Minos Global, which the partners say complies with current regulation and international AML/CFT standards; Minos Global is participated in by Prosegur Cash. Launch pricing is set at 0.50% for buy/sell transactions and 0.50% per year for custody fees, excluding indirect taxes, a level the firms describe as competitive.
Myandbank and Prosegur Crypto say the agreement establishes a roadmap for further technological and operational integrations and foresee adding additional digital assets in a second phase of the project.
“The incorporation of cryptoasset trading in a safe and regulated environment, pioneering in Andorra, reinforces our commitment to innovation,” said Marta Bravo, deputy CEO of Andbank. José Ángel Fernández Freire, director of Innovation at Prosegur Cash and CEO of Prosegur Crypto, called the licence “a strategic milestone that consolidates Prosegur Crypto as one of the main institutional providers” and said the alliance will enable a more digital, diversified suite of services and products.
With the launch, Myandbank and Prosegur position themselves among the first institutions to offer regulated cryptoasset services in the Andorran market, responding to growing investor interest in digital assets within a regulated banking framework.
Original Sources
This article was aggregated from the following Catalan-language sources: