Leading Swiss bank ZKB has launched retail trading of BTC and ETH
The service was launched jointly with a subsidiary of the Deutsche Börse exchange
04.09.2024 - 15:37
401
3 min
0
What’s new? Zürcher Kantonalbank (ZKB), a bank owned by the canton of Zurich and one of the top 4 financial institutions in Switzerland, has launched a trading service for the largest cryptocurrencies for retail customers and third-party banks. The broker-partner of the new service is Deutsche Börse Crypto Finance, the crypto subsidiary of the exchange, which is licensed by the Swiss Financial Market Supervisory Authority (FINMA) and the German Financial Supervisory Authority (BaFin).
What else is known? One of ZKB’s partners is institutional custodian Fireblocks, but the bank said it has developed its own cryptocurrency storage solution for the new service.
Institutional crypto custodian Fireblocks has received a license from New York's regulator
A network of regional companies for regulated cold storage services will also be launched in the UAE, UK, Singapore, Thailand and Australia
ZKB is Zurich’s largest bank, ranked second in Global Finance’s 2023 ranking of the world’s safest banks based on Fitch, Moody’s, and S&P ratings and total assets.
At the moment, ZKB clients can trade in the largest cryptocurrencies by capitalization: bitcoin and Ethereum. Transactions can be carried out via mobile application, online banking, and other channels.
ZKB senior executive Peter Hubley said that Crypto Finance was chosen as a partner because it is a regulated and competent company with many years of experience and knowledge of all aspects of the crypto business.
Switzerland has a reputation as a cryptocurrency-friendly jurisdiction, and some local companies have been offering services related to this type of asset for several years. At the same time, they are primarily focused on institutional clients.
As for retail users, the first crypto trading service in the country was launched by PostFinance bank in partnership with crypto bank Sygnum earlier this year.
In July, Dutch crypto exchange One Trading (formerly Bitpanda Pro) received a license from the local Financial Markets Authority (AFM), making it the first regulated cryptocurrency derivatives trading platform in the European Union.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$97 584
BTC
+4.44%
-
Ethereum
$3 127.73
ETH
+0.23%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.12
XRP
+1.62%
-
Dogecoin
$0.381396
DOGE
-2.79%
-
Cardano
$0.776194
ADA
-7.57%
-
Bitcoin Cash
$513.25
BCH
+15.54%
-
Polkadot
$5.6
DOT
-7.23%
-
Stellar XLM
$0.240496
XLM
+1.17%
-
Litecoin
$88.99
LTC
+3.43%