- Zürcher Kantonalbank partners with Crypto Finance AG to launch crypto brokerage services for retail clients and third-party banks.
- ZKB clients can now trade Bitcoin, XRP, and Ethereum seamlessly through their mobile app, e-banking, and digital channels.
Recently, Crypto Finance AG, a member of the Deutsche Börse Group, has announced a collaboration with Zürcher Kantonalbank (ZKB) to provide cryptocurrency asset brokerage services.
This agreement is a big step forward for Switzerland’s largest cantonal bank, which will debut its new crypto service on September 4, 2024. This unique tool, aimed primarily at retail consumers and third-party banks, allows a wider audience to engage with digital assets such as Bitcoin, XRP, and Ethereum.
Growing Demand for Crypto Services in Traditional Banking
The introduction of this integrated digital asset solution demonstrates the increased interest and demand for crypto services in traditional banking. It lays a solid platform for participating in the constantly increasing digital asset market.
Blockchain researcher Collin Brown emphasized the significance of this development, stating that ZKB clients may now trade Bitcoin, XRP, and Ethereum through a variety of channels, including their mobile app, e-banking, and other digital platforms.
Crypto Finance AG has partnered with Switzerland’s fourth largest bank, which has $450,000,000,000 in assets under management, to bring crypto asset services to ZKB clients. Starting today, ZKB clients can trade #Bitcoin, #XRP & #Ether through their app and eBanking.
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— Collin Brown (@CollinBrownXRP) September 4, 2024
Peter Hubli, Head of Digital Asset Solutions at ZKB, expressed his delight for the relationship, citing Crypto Finance’s “experienced, regulated, and competent” knowledge in the crypto market.
He stressed how the relationship provides industry knowledge, allowing ZKB to successfully handle the challenges of the cryptocurrency market. This statement demonstrates ZKB’s commitment to providing its clients with dependable and secure access to the digital asset area.
The successful launch of ZKB’s cryptocurrency offering reflects not only the rising integration of digital assets into traditional financial frameworks, but also Switzerland’s growing position as a global leader in digital innovation and financial technology.
As the government continues to create an atmosphere suitable to fintech growth, the collaboration between ZKB and Crypto Finance exemplifies the developing interaction between traditional banking and the crypto world. Stijn Vander Straeten, CEO of Crypto Finance AG, stated:
“We are very proud to support Switzerland’s largest Kantonalbank in the launch of their crypto offering. This is a further important milestone for the broad acceptance of crypto in Switzerland. We are excited about the opportunity to collaborate with ZKB.”
On the other hand, as we previously reported, Deutsche Bank-backed Taurus is expanding its services to the Stellar blockchain, which now offers asset tokenization and safe storage solutions.
Taurus-PROTECT, a digital asset storage solution, and Taurus-CAPITAL, a tokenization service, are now available on Stellar’s public blockchain, expanding the digital asset management options.
Furthermore, Deutsche Bank has offered Bitpanda users real-time payment solutions, allowing for frictionless deposits and withdrawals. According to CNF, Bitpanda customers in Germany may now enjoy increased convenience and security with local IBAN access, which contributes to a better overall user experience.
