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One of Switzerland’s Top Banks Offers Trading & Custody Services for Bitcoin and Ether

Zurich Cantonal Bank (ZKB), one of Switzerland’s largest banks, has launched cryptocurrency trading and custody services for Bitcoin and Ether. Customers can trade crypto 24/7 via ZKB’s eBanking and Mobile Banking platforms, with holdings integrated into their existing portfolios. The bank will also securely store private keys, removing the need for customers or partner banks to manage their own wallets.

ZKB’s new service is available to individuals and third-party banks. Thurgauer Kantonalbank is the first partner to use ZKB’s business-to-business (B2B) crypto solution, with trades processed through Crypto Finance AG, a subsidiary of Deutsche Börse Group.

ZKB has been exploring blockchain and digital assets for several years. In 2021, it participated in issuing the world’s first digital bond on the SIX Digital Exchange. In 2023, it also handled digital bonds issued with central bank digital currency as part of a Swiss National Bank pilot project.

Founded in 1870 as the “bank of the citizens of Zurich,” ZKB continues to innovate in the financial space, expanding its offerings to include cryptocurrency services. This follows the steps of other Swiss banks, such as Zuger Kantonalbank, St. Galler Kantonalbank AG, and Luzerner Kantonalbank, which have also introduced crypto services.

Local cryptocurrency entrepreneur Jakob Bosshard had anticipated ZKB’s crypto services launch earlier, as noted in a LinkedIn post in July. With total assets of 200 billion Swiss francs ($235 billion), ZKB is the largest cantonal bank in Switzerland and the fourth-largest bank in the country.

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Written by 365Crypto

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