Zürcher Kantonalbank (ZKB), Switzerland’s fourth-largest bank, has recently announced the launch of trading and secure storage services for major digital assets like Bitcoin and Ethereum. This new offering allows customers to trade BTC and ETH through ZKB eBanking or ZKB Mobile Banking, in collaboration with Crypto Finance AG, a subsidiary of Deutsche Börse Group.
Alexandra Scriba, Head of Institutional Clients & Multinationals at ZKB, emphasized the high level of security and convenience provided by the bank’s crypto trading service. ZKB takes on the responsibility of securely storing private keys, eliminating the need for customers and third-party banks to manage their own wallets.
In addition to individual trading services, ZKB also offers a business-to-business solution for other Swiss banks to offer crypto trading and custody services. Thurgauer Kantonalbank is the first partner bank to adopt this service.
This move by ZKB reflects a larger trend of traditional financial institutions embracing cryptocurrencies. Cantor Fitzgerald CEO Howard Lutnick highlighted Bitcoin’s potential to become a significant asset in the financial industry, expressing support for integrating BTC into traditional finance (tradfi).
The US has already seen successful launches of Bitcoin and Ethereum exchange-traded funds (ETFs), driving institutional interest in the sector. Bitwise CIO Matt Hougan noted the rapid institutional adoption of these products, particularly Bitcoin ETFs.
Overall, ZKB’s entry into the crypto trading market and the growing acceptance of digital assets by traditional financial institutions indicate a shifting landscape towards mainstream adoption of cryptocurrencies.
