Leading Swiss bank ZKB introduces Bitcoin and Ether trading services.

Zurich Cantonal Bank (ZKB) Launches Crypto Trading and Custody Services for Bitcoin and Ether

Leading Swiss bank ZKB introduces Bitcoin and Ether trading services.

Zurich Cantonal Bank, one of Switzerland’s largest financial institutions, has officially enabled cryptocurrency trading for its customers. In a September 4 announcement, ZKB confirmed it now offers trading and custody services for Bitcoin (BTC) and Ether (ETH). This new offering is integrated into the bank’s existing platforms and is accessible to both customers and third-party banks.

As Switzerland's largest cantonal bank and the fourth-largest overall with assets totaling 200 billion Swiss francs ($235 billion), ZKB is leading the charge in crypto adoption. Customers can trade cryptocurrencies 24/7 directly via ZKB eBanking or ZKB Mobile Banking, with their crypto holdings integrated into their existing portfolio view.

The bank has taken responsibility for securely storing customers' private keys, eliminating the need for individual wallets. Alexandra Scriba, head of institutional clients at ZKB, emphasized that this new service provides a high level of security while allowing for future integration of other currencies and applications.

In addition to individual customers, ZKB’s crypto custody and trading solution is available for third-party banks. Thurgauer Kantonalbank is the first to adopt ZKB’s business-to-business (B2B) service, which enables secure trading and storage of BTC and ETH. Trades are conducted through Crypto Finance AG, a subsidiary of the Deutsche Börse Group.

ZKB has been actively exploring the digital asset space in recent years. The bank participated in issuing the world’s first digital bond on the SIX Digital Exchange in 2021 and has worked with the Swiss National Bank on digital bonds and central bank digital currencies.

Other Swiss cantonal banks, including Zuger Kantonalbank, St. Galler Kantonalbank AG, and Luzerner Kantonalbank, have also introduced cryptocurrency services in recent years. ZKB’s entrance into the space is seen as a significant step forward in Swiss crypto adoption.

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