Zurich Cantonal Bank has now officially opened up trading in both Bitcoins and Ethereum. The institution of the Central European country has launched both Bitcoin and Ethereum trading. officially announced Users can trade both traditional assets and cryptos.
Bank has informed its customers that they can now access their accounts online. “buy and sell Bitcoin and Ethereum,” While also storing “security-relevant access data.” Currently, the bank has assets in excess of CHF 150 Billion. Zurich Cantonal has also announced the integration of cryptocurrency into mobile banking.
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Switzerland’s 4th Largest Bank Launches BTC & ETH Trading
Crypto has had a great year in 2024. It was crucial for the two largest tokens in terms of market capital. Bitcoin and Ethereum were the first two offerings that received a crypto-based ETF The United States. In addition, many traditional financial platforms have begun to accept the currency for the future.
Zurich Cantonal – Switzerland’s 4th largest bank – now provides Bitcoin and Ethereum to its clients. This institution has announced a groundbreaking integration with its ZKB app. Users who are primarily in control of their finances digitally can now easily access the digital asset markets.
Banks note that they manage all crypto holdings for users. The bank does not require a specific cryptocurrency wallet. To protect its users, the bank also withholds certain security information. The bank is a more centralised entity, yet it still provides a key entry point for new customers to this asset class.
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Zurich Cantonal clients who wish to trade BTC or ETH are subject to certain restrictions. Customers based in Domizil Switzerland can only trade these assets. Signing a trading, security, and a “Consent Declaration Disclosure.”
Additionally, the purchase of cryptocurrency through a bank is done in US dollars. The users can buy Swiss Francs, but they will have to negotiate the exchange rate at time of transaction. In the opposite direction, this setup provides a way for a whole new group of people to be exposed and adopt crypto tokens.
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Source: watcher.guru