- Zurich Cantonal Bank has launched trading and custody services for Bitcoin and Ethereum.
- The new services are integrated into ZKB eBanking and ZKB Mobile Banking platforms.
Zürich Cantonal Bank, the fourth-largest bank in Switzerland, has officially entered the cryptocurrency market. According to the announcement on September 4, ZKB is allowing its clients and third-party banks to trade and store cryptocurrencies like Bitcoin and Ethereum.
Further, the bank’s offerings are integrated with its existing digital platforms, ZKB eBanking and ZKB Mobile Banking, which are assisted through a partnership with Crypto Finance AG, a subsidiary of Deutsche Börse Group.
Head of Institutional Clients & Multinationals, Alexandra Scriba, highlighted that clients won’t need separate wallets or manage private keys, as ZKB will handle these aspects. Additionally, the bank is providing a B2B solution. That enables other Swiss banks to offer similar crypto services through a business-to-business solution.
Switzerland continues to embrace the world of web3 and cryptocurrencies with this latest move. However, Thurgauer Kantonalbank is the first to adopt this new service from the Zurich Kantonal Bank.
PostFinance, one of Switzerland’s big four banks, began offering crypto services through a partnership with Sygnum Bank earlier this year. In 2021, BBVA Switzerland was among the first banks globally to launch digital asset services without requiring a minimum net worth.
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