he 4th largest bank in Switzerland, the ZKB stated that it has launched a trading and storage service for the two biggest crypto assets, Bitcoin and Ethereum. Their customers can access these service on a 24/7 basis through the ZKB e-banking platform.
Enhanced Security Measures
The ZKB is taking security and transparency very seriously, and is taking full responsibility for storing their customers' funds and private keys. This is great for customers that want exposure to crypto assets, without the hassle of managing and securing their private keys on their own.
B2B Solution for Swiss Banks
The ZKB bank will also provide B2B solutions for business, meaning other Swiss banks will have the option to offer crypto trading and custody for their clients.
Traditional Finance Embracing Crypto
ZKB’s move into crypto, highlights a larger trend of interest from the traditional financial sector into digital assets, as more and more organizations and banks in Switzerland are going to follow. The CEO of Cantor Fitzgerald recently pointed at Bitcoin as the key asset that could define the future of the financial sector.
The New Phase of Crypto in Banking
The strategic move by ZKB, is a huge milestone for the crypto sector in Switzerland, where now organizations and banks will offer digital assets trading and custody for all their clients, attracting many new wealthy individuals into the crypto space. We saw a similar situation unfold with the successful ETF Launch in the USA in early 2024, which attracted many institutional investors. These moves could open up the crypto market in mainstream financial markets.
