Zurich Cantonal Bank Unveils Bitcoin & Ethereum Offerings

Zurich Cantonal Bank (ZKB), the biggest cantonal Swiss bank, on Wednesday announced that it is launching Bitcoin and Ethereum crypto offerings.

Swiss banking giant Zurich Cantonal Bank (ZKB) has announced the launch of crypto offerings, including Bitcoin and Ethereum, for its customers. The bank aims to provide a secure and convenient way for users to trade cryptocurrencies.

According to a press release, starting September 4, ZKB customers can now trade cryptocurrencies directly via ‘ZKB eBanking or ZKB Mobile Banking,’ offering 24×7 access to crypto trading.

The bank highlights that crypto holdings are integrated into the existing custody view, providing a comprehensive overview of users’ financial assets. Initially, only Bitcoin and Ethereum are available for trading.

"Our newly launched offer in the field of cryptocurrencies offers a high level of security and allows the integration of other currencies and applications. In the case of cryptocurrencies, the Zürcher Kantonalbank assumes the critical function of the secure custody of private keys," said Alexandra Scriba, Head of Institutional Clients & Multinationals at Zurich Cantonal Bank.

"Customers and third-party banks, therefore, do not need their own wallet and, therefore, do not have to worry about the custody of their own private keys. The bank takes care of both of the things, offering a seamless user experience while trading crypto."

ZKB's business-to-business solution also enables third-party Swiss banks to integrate crypto trading and secure custody for their users. However, the bank noted that U.S. persons are excluded from the offering.

The launch of crypto offerings by Zurich Cantonal Bank is expected to attract a large number of traders and investors into the crypto market, potentially providing some support to crypto prices.

At the time of writing, Bitcoin price hovered around the $56K level, while Ethereum price traded at $2,400, showing a slight decrease in value over the past 24 hours.

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