Zurich Cantonal Bank has started providing cryptocurrency trading services, offering its clients the opportunity to buy and sell Bitcoin and Ethereum through a mobile banking app.
Zurich Cantonal Bank and Crypto
As of today, Zurich Cantonal Bank offers cryptocurrency trading services for individual clients and third-party banks. In partnership with Crypto Finance, managed by Deutsche Börse and holding FINMA and BaFIN Germany licenses, the bank will provide these services on a legal basis.
Buying Cryptocurrency from the Bank
Starting today, ZKB customers can buy and sell Bitcoin and Ethereum directly through the mobile banking application. For cautious investors who view centralized cryptocurrency exchanges as less secure, especially after examples like FTX, these alternatives will also increase liquidity inflow into the markets.
Banking Progress in Crypto
Although ZKB has made a significant move, it is not the first bank to go in this direction. In 2021, BBVA Switzerland was the first to make a name for itself in this area. Another of the country's four major banks, PostFinance, offered cryptocurrency services in early 2024 in partnership with Sygnum.
The increasing interest of banks and the entry of such reputable institutions into the crypto business is motivating for all investors.
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