Switzerland’s Fourth-Biggest Bank ZKB Offers Retail Customers Bitcoin and Ether
-
Swiss retail customers of the country’s largest cantonal bank now have the ability to buy, sell and hold the two most popular digital assets: bitcoin and Ethereum.
-
ZKB is handling the custody of crypto-assets a service that can be offered to other Swiss banks.
00:53
Ether Slides as Grayscale’s ETHE Outflows Ramp Up
00:54
Here’s Why Ether Could Surge in 2024
02:16
BlackRock Files Ether ETF Prospectus; Vivek Ramaswamy Proposes New Crypto Rules
16:00
[SPONSORED CONTENT] Alvaro Cosi of Switzerland for UNHCR shares his perspective on raising awareness and funding for refugees utilizing blockchain technology
The fourth-largest bank in Switzerland, Zürcher Kantonalbank (ZKB), has begun offering retail customers the ability to buy, sell and hold the two most popular cryptocurrencies: bitcoin (BTC) and Ethereum (ETH).
Thanks to a collaboration with Deutsche Börse-owned digital assets broker Crypto Finance, customers of the cantonal bank will have access to BTC and ETH through ZKB’s existing Mobile App, eBanking, and other established channels, the companies said in a press release Wednesday.
Switzerland is ahead of the curve when it comes to digital assets, with many financial institutes offering customers ability to trade crypto in the country. ZKB is also no stranger to crypto innovation, as the bank was involved in the issuance of the world’s first digital bond on Switzerland’s SIX Digital Exchange (SDX) back in 2021.
“When it comes to cryptocurrencies, Zürcher Kantonalbank takes on the critical function of securely storing the private keys. Customers and third-party banks therefore do not need their own wallet and therefore do not have to worry about storing their own private keys. Zürcher Kantonalbank takes care of both,” said Alexandra Scriba, head of institutional clients and Multinationals at Zürcher Kantonalbank, in a statement.
ZKB’s new service allows other Swiss banks to offer customers the trading and custody of cryptocurrencies, with Thurgauer Kantonalbank being the first partner bank to use the service.
Disclosure
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
CoinDesk is an
award-winning
media outlet that covers the cryptocurrency industry. Its journalists abide by a
strict set of editorial policies.
In November 2023
, CoinDesk was acquired
by the Bullish group, owner of
Bullish,
a regulated, digital assets exchange. The Bullish group is majority-owned by
Block.one; both companies have
interests
in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.