- Zürcher Kantonalbank (ZKB) now offers Bitcoin and Ethereum transactions via ZKB eBanking and mobile banking.
- The bank will be working with Crypto Finance AG to use Fireblocks for secure storage.
- This service is only available to Swiss residents who have signed the required contract.
Zurich Kantonalbank (ZKB), the fourth-largest bank in Switzerland, known locally as Zürcher Kantonalbank, has taken a big step into the cryptocurrency space by launching Bitcoin (BTC) and Ethereum (ETH) trading services.
The development, announced on September 4, marks a major milestone in the mainstream adoption of digital currencies by traditional financial institutions.
ZKB has collaborated with Crypto Finance AG and Fireblocks.
ZKB’s new service allows retail customers to trade and store Bitcoin (BTC) and Ether (ETH) directly through the digital platforms ZKB eBanking and ZKB Mobile Banking. This integration provides a seamless experience for customers, who can now manage their cryptocurrency holdings alongside their existing investments without the need for a separate wallet.
To ensure a safe and regulated environment for these transactions, ZKB has collaborated with Crypto Finance AG, a subsidiary of the Deutsche Börse Group.
Crypto Finance AG’s technology, licensed by FINMA and BaFin, supports ZKB’s trading operations and ensures compliance and security.
ZKB has also developed its own cryptocurrency custody solution, with Fireblocks playing a key role in securing digital assets.
This strategic move positions ZKB at the forefront of the cryptocurrency revolution, providing a centralized trading and custody platform that eliminates the need for customers to manage their own private keys.
According to Aleksandra Skriva, head of institutional clients at ZKB, the bank’s approach offers a high level of security and has the potential to integrate other digital currencies and applications in the future.
Currently, cryptocurrency trading services are only available to customers residing in Switzerland, and to activate an account, customers must sign an agreement on trading, securities and a “Consent Declaration Disclosure”.
This cautious approach reflects ZKB’s commitment to expanding accessibility to digital currencies while maintaining strong security standards.
ZKB’s entry into the crypto market highlights a broader trend within the banking sector, with institutions increasingly embracing digital assets. Competitors such as PostFinance are also exploring crypto services, highlighting the growing acceptance of digital currencies in traditional finance, paving the way for more integrated and accessible crypto solutions.