- Swiss bank ZKB now offers Bitcoin and Ether trading and custody services
- These crypto services are integrated into ZKB’s eBanking and mobile platforms
- ZKB partners with Crypto Finance AG for secure crypto transactions
Zurich Cantonal Bank, more popularly known as ZKB, is going to take a giant leap into the world of cryptocurrencies! Come September 4, 2024, customers of this Swiss bank will be able to buy, sell, and even store Bitcoin and Ethereum directly through their various digital channels, including ZKB eBanking and ZKB Mobile Banking.
This move further develops the integration of cryptocurrencies within the traditional Swiss banking system.
ZKB Leaps into Crypto with New Trading and Custody Services
Until recently, the field of cryptocurrencies has gained a lot of momentum, and traditional financial institutions are no exception to this trend. On September 4, 2024, one of the biggest Swiss banks—Zurich Cantonal Bank, or ZKB for short—made its official announcement that it was offering services related to cryptocurrency trading and custody. This strategic step will allow the bank to expand its services to include buying, selling, and custody services for Bitcoin and Ethereum directly through clients’ digital channels, such as ZKB eBanking and ZKB Mobile Banking.
The announcement by ZKB is another important step in building up Swiss banking acceptance for cryptocurrencies. It therefore doesn’t come as a surprise, given the increasingly growing attention that blockchain technology has recently received from the bank over the last couple of years.
Last year alone, ZKB was involved in what is arguably the world’s first digital bond issue on the SIX Digital Exchange. It was also at the forefront of a 2023 Swiss National Bank pilot project that issued digital bonds with central bank digital currency.
The new offering by ZKB has been integrated within the bank’s digital channels, and clients now have access to cryptocurrency markets with the same level of convenience they have for their traditional bank accounts.
This has been made possible through a partnership with Crypto Finance AG, a subsidiary of Deutsche Börse Group, which will handle all cryptocurrency transactions on behalf of the bank.
The most innovative part of what is being offered by ZKB is the fact that customers will not have to manage their own cryptocurrency wallets or even think about the storage of private keys—all of this the bank will handle, for users’ security and convenience.
Conclusion
With this new service, ZKB is expanding not only its range of services but also making it easy for all customers to access cryptocurrencies.
It further advances the bank’s provision for secure and hassle-free management of cryptocurrencies, made possible by a partnership with Swiss Crypto Finance AG—a great step forward into the future of digital finance in Switzerland!
