Zürcher Kantonalbank (ZKB), Switzerland’s fourth-largest bank, has launched a new service allowing retail customers to buy, sell, and hold Bitcoin (BTC) and Ethereum (ETH), the two most popular cryptocurrencies.
The service, made possible through a partnership with Deutsche Börse-owned Crypto Finance, will be accessible through ZKB’s existing Mobile App, eBanking, and other channels. This move further solidifies Switzerland’s progressive stance on digital assets, as several financial institutions in the country already enable crypto trading.
ZKB has a history of innovation in the crypto space. In 2021, the bank was part of the world’s first digital bond issuance on Switzerland’s SIX Digital Exchange (SDX). The bank’s new offering also simplifies the process for customers, handling the secure storage of private keys. “Customers and third-party banks don’t need their own wallets, as ZKB takes care of secure key storage,” said Alexandra Scriba, head of institutional clients and multinationals at ZKB.
Additionally, ZKB’s service extends to other Swiss banks, with Thurgauer Kantonalbank becoming the first partner to adopt the new cryptocurrency trading and custody solution.
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