Zurich Cantonal Bank has added crypto-trading and custody to its existing services. financial offerings.
Zurich Cantonal Bank, Switzerland‘s fourth-largest bank, has officially entered the crypto market, offering its clients the ability to trade and store Bitcoin (BTCEthereum (ETH).
The 4th of September press releaseThe bank has said that the new service is fully integrated with its digital platforms including ZKB eBanking, ZKB Mobile Banking and ZKB eBanking. The bank has partnered with Crypto Finance AG, a subsidiary of Deutsche Börse Group, to execute crypto trades, the press release reads.
Alexandra Scriba, head of institutional clients & multinationals at ZKB, says customers and third-party banks will not need their own Wallet and don’t have to worry about the storage of their private keys as both will be handled by the bank.
ZKB’s entrance into the cryptospace is not limited to ZKB. own The bank also offers a Business-to-Business solution, which allows other Swiss banks provide custody and crypto trading services. According to the press release Thurgauer Kantonalbank is the first Swiss cantonal banking partner that has adopted this service.
ZKB has continued its efforts in foraying into the cryptocurrency market. The bank had explored the technology of blockchain extensively in recent years.
ZKB’s crypto initiative coincides with a larger expansion of services in Switzerland financial institutions. The crypto-friendly Zurich-based bank Sygnum launched its services in late June. extended Its business-to-business service to more than 20 entities including PostFinance and ZugerKB allows a large portion of Swiss citizens to have access to crypto markets.
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Source: crypto.news