In a significant development within the Swiss banking sector, Zuger Kantonalbank has expanded its cryptocurrency offerings to include Cardano (ADA) and Avalanche (AVAX).
Partnership with Sygnum: Enhancing Digital Asset Services
The collaboration with Sygnum plays a pivotal role in this expansion. Customers can leverage their fiat balances to buy and trade cryptocurrencies through the bank’s e-banking and mobile banking platforms. Assets are secured through Sygnum’s institutional-grade custody platform.
Responding to Increased Demand and Regulatory Developments
The expansion of services is due to increased customer demand, especially following the launch of the crypto trading service in 2023. Additionally, international regulatory changes, like the implementation of MiCA in Europe, have fueled the interest in cryptocurrencies.
Impact on the Banking Sector
The inclusion of Cardano and Avalanche in Zuger Kantonalbank’s offerings marks a significant advancement in the integration of digital assets within traditional banking frameworks.
Zuger Kantonalbank continues to adapt to the evolving digital asset landscape, offering clients expanded investment opportunities.
