ZKB stated it will safeguard customers’ private keys and ensure the security of their assets.
Switzerland’s fourth-largest bank, Zürcher Kantonalbank (ZKB), has introduced trading and secure storage for major digital assets, including Bitcoin and Ethereum, according to a September 4 announcement.
The bank revealed that customers can now trade BTC and ETH 24/7 via its ZKB eBanking or ZKB Mobile Banking platforms. This service was made possible through its partnership with Crypto Finance AG, a subsidiary of Deutsche Börse Group.
Alexandra Scriba, Head of Institutional Clients & Multinationals at ZKB, highlighted that the bank’s crypto trading service offers a high level of security and the potential to integrate other currencies and applications. Scriba explained:
“When it comes to cryptocurrencies, Zürcher Kantonalbank takes on the critical role of securely storing the private keys. Customers and third-party banks don’t need their own wallet, nor do they have to worry about securing their private keys. Zürcher Kantonalbank handles both.”
Additionally, ZKB offers a business-to-business solution, allowing other Swiss banks to provide crypto trading and custody services. Thurgauer Kantonalbank is the first partner bank to adopt this service.
Traditional Finance’s Growing Crypto Adoption
ZKB’s launch of crypto trading services aligns with the broader trend of traditional financial institutions increasingly embracing Bitcoin and other digital assets.
On September 3, Cantor Fitzgerald CEO Howard Lutnick highlighted Bitcoin’s potential to become a key asset in the financial sector, stating:
“Cantor will help tradfi bring Bitcoin all the way in. Tradfi wants new asset classes, and BTC is here to stay.”
In the U.S., the successful introduction of Bitcoin and Ethereum exchange-traded funds (ETFs) has further fueled institutional interest. Bitwise CIO Matt Hougan noted that the institutional adoption of Bitcoin ETFs has been progressing at an unprecedented rate.
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