- Launch of Crypto Services
- Partnership with Crypto Finance AG
- Expansion of Crypto Services in Switzerland
Zurich Cantonal Bank, Switzerland’s fourth-largest bank, has announced the launch of crypto trading and custody services, expanding its financial offerings.
Launch of Crypto Services
On September 4, Zurich Cantonal Bank officially entered the crypto market, offering its clients the ability to trade and store Bitcoin and Ethereum. The new offering is integrated into the bank’s existing digital platforms, including ZKB eBanking and ZKB Mobile Banking.
Partnership with Crypto Finance AG
The bank has partnered with Crypto Finance AG, a subsidiary of Deutsche Börse Group, to execute crypto trades. Alexandra Scriba, head of institutional clients & multinationals at ZKB, said customers and third-party banks will not need their own wallet and do not have to worry about storing their private keys, as the bank will handle both processes.
Expansion of Crypto Services in Switzerland
Zurich Cantonal Bank is also offering a business-to-business solution that enables other Swiss banks to provide crypto trading and custody services. Thurgauer Kantonalbank has become the first partner bank to adopt this service. This move is part of a broader expansion of crypto services among Swiss financial institutions. For instance, in June, crypto-friendly bank Sygnum extended its business-to-business services to over 20 entities, including PostFinance, ZugerKB, and LuzernerKB.
Zurich Cantonal Bank’s initiative to launch crypto services continues the trend of expanding crypto offerings among Swiss financial institutions, allowing more Swiss citizens to access crypto markets.
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