Zürcher Kantonalbank (ZKB) enabled its customers to store and trade Bitcoin (BTC) and Ethereum (ETH). The service is also available to third-party banks.
Zürcher Kantonalbank (ZKB), the largest cantonal bank in Switzerland, announced the launch of cryptocurrency trading. ZKB customers can now trade BTC and ETH via the bank’s online banking platform and mobile app.
Crypto trading at ZKB will be available 24/7, with digital assets integrated into clients’ overall portfolios. Trading operations with digital assets will be handled by FinTech company Crypto Finance AG, a subsidiary of Deutsche Börse Group.
The bank is also offering third-party banks access to this new feature. ZKB’s first crypto trading integration partner is Thurgauer Kantonalbank, whose clients will also be able to securely store and trade BTC and ETH.
The bank will handle the custody of private keys. According to Alexandra Scriba, Head of Institutional Client Department, ZKB will ensure the security of clients’ crypto-assets, making the process more convenient and reliable.
Major financial institutions worldwide are actively exploring digital assets. Colombia’s Bancolombia, Germany’s financial giants Landesbank Baden-Württemberg and DBK, Brazil’s Itaú Unibanco, and Europe’s biggest banking group CACEIS already launched their own platforms for trading or storing cryptocurrencies on behalf of their clients.
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