Crypto in Private Banking: The Creand and Onyze Case in Andorra

Crypto in private banking: the Creand and Onyze success case in Andorra

Overview

Does a private banking client really want to keep their crypto-assets at a bank instead of in their own wallet? In this MERGE Madrid panel, Creand (an Andorran private bank) and custodian Onyze explain how, over roughly three years of joint work, they integrated buying, selling, custody and transfer of crypto-assets into the bank's online banking, with 24/7 operations and under Andorra's regulatory framework.

What you'll learn

• Bank + specialized custodian: why a bank partnered with a crypto custodian instead of building everything from scratch
• Regulation as the trigger: the role of Andorra's digital assets law, which predated MiCA
• A cross-cutting project: the impact on technology, compliance, risk and operations, not just one area
• User experience: integrating crypto into online banking with the same experience the client already knows
• 360 perspective and transfers: on-chain deposits and withdrawals to and from external wallets, with anti-money-laundering controls
• Security and compliance: custody, transaction monitoring and risk control at the level a bank requires

Session summary

The origin of the partnership: the speakers explain they already knew each other and that the bank was clear it wanted to enter crypto alongside a specialist; after about three years of joint work, they launched the service a few months ago.

Why they entered: management wanted to explore the field, clients were starting to demand these services, and the definitive trigger was regulation, since Andorra approved its digital assets law somewhat before MiCA, providing the framework to operate with guarantees.

A whole-bank project: both stress this is not just a technology or digital-assets project but a cross-cutting one, impacting operations, technology, risk and compliance; technology is almost the commodity, and the real complexity appears in compliance and day-to-day operations.

Being pioneers, with pros and cons: Creand claims a leadership position in Andorra while acknowledging it is a demanding project; within a few months they validated the hypothesis that there are clients with digital assets who prefer to custody them at a bank rather than in their own wallet.

360 perspective and asset repatriation: they highlight integrating everything into online banking (buy, sell or transfer in a few clicks, 24/7) and, as a differentiator, the inbound and outbound transfers that let clients move their assets from external wallets into the bank's custody, passing through anti-money-laundering controls.

Security, compliance and banking language: Onyze describes an approach heavily focused on cybersecurity and compliance, with transaction monitoring and alert systems; they explain their job is to translate crypto language into banking language, speaking with product, business, legal, compliance and operations teams.

Roadmap and stablecoins: once custody is consolidated, they consider adding value layers such as staking; on stablecoins and CBDCs they remain cautious, watching how MiCA and the market evolve, with the nuance of operating under the Andorran framework.

Watch the full panel

Watch the full panel recording on MERGE's YouTube channel, featuring Creand and Onyze on integrating crypto-assets into private banking.

FAQs

Why does a bank partner with a crypto custodian instead of doing it all itself?
Because a specialized custodian brings expertise in cybersecurity and crypto operations, while the bank brings its natural layers of security, compliance and resilience; the partnership reduces errors and speeds up launch.

What role did Andorra's regulation play?
Andorra's digital assets law, approved somewhat before MiCA, was the project's trigger by offering a framework to operate with guarantees, something essential for a bank.

What can the client do with the service?
Buy, sell, custody and transfer crypto-assets integrated into their online banking, 24/7, with on-chain deposits and withdrawals to external wallets, after onboarding and a suitability test required by law.

Is this investment advice?
No. The panel describes a case of integrating crypto services into banking; the content is informational and does not constitute an investment recommendation.