Zurich Cantonal Bank (ZKB), the fourth-largest bank in Switzerland, has expanded its financial services by officially launching cryptocurrency trading and custody options. Customers can now trade and store both Bitcoin and Ethereum.
Partnership with Crypto Finance AG
The bank announced that the new cryptocurrency offering will be fully integrated into its existing digital platforms, such as ZKB eBanking and ZKB Mobile Banking. To facilitate these trades, the bank has partnered with Crypto Finance AG, a subsidiary of Deutsche Börse Group.
Services for Other Swiss Banks
In addition to offering services to its direct clients, ZKB is also providing a B2B solution for other Swiss banks. This service allows these banks to offer cryptocurrency trading and custody services to their customers. Thurgauer Cantonalbank is the first partner to adopt this new service.
Current Trends in Cryptocurrencies
ZKB's expansion into crypto services comes amid a broader trend of Swiss financial institutions incorporating cryptocurrency offerings. For example, Sygnum, another Zurich-based bank known for its crypto-friendly stance, recently expanded its B2B services, serving over 20 entities including PostFinance, Zuger Kantonalbank, and Luzerner Kantonalbank.
These steps reflect the increasing demand for such services in Switzerland and demonstrate the banks' commitment to providing secure and regulated cryptocurrency services.
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