ZKB, Switzerland’s 4th largest bank, has launched Bitcoin and Ethereum trading

Zürcher Kantonalbank (ZKB) now offers Bitcoin and Ethereum transactions via ZKB eBanking and Mobile Banking. The bank uses FireBlocks for secure protection in cooperation with Crypto Finance AG. The Services are only available to Swiss residents if the necessary agreements have been signed.

Zurich Cantonal Bank, Switzerland's fourth largest bank has taken a major step into cryptocurrency territory by launching local Zurcher Kantonalbank (ZKB), Bitcoin (BTC) and Ethereum (ETH) trading services.

Announced on September 4, this development marks a major milestone in the mainstream acceptance of digital currencies by traditional financial institutions.

ZKB has partnered with Crypto Finance AG and Fireblocks.

ZKB's new offering allows retail customers to trade and store Bitcoin (BTC) and Ether (ETH) directly through digital platforms: ZKB eBanking and ZKB Mobile Banking. This integration provides a seamless experience for customers who can now manage their cryptocurrency holdings alongside traditional investments without the need for a separate wallet.

To ensure a secure and regulated environment for these transactions, ZKB has partnered with Crypto Finance AG, a subsidiary of the Deutsche Börse Group.

Licensed by both FINMA and BaFin, Crypto Finance AG's technology supports ZKB's business operations, ensuring compliance and security.

With firewalls playing a key role in protecting digital assets, ZKB has developed its own crypto custody solution.

This strategic move ZKB is at the forefront of the cryptocurrency revolution, offering a centralized platform for trading and storage that eliminates the need for customers to manage their own private keys.

Alexandra Scriba, Head of Institutional Clients at ZKB, said that the bank's system offers high security and the possibility to integrate other digital currencies and applications in the future.

Currently, the crypto trading service is only available to customers residing in Switzerland and in order to activate an account, customers must sign trading, security and “disclosure” agreements.

This cautious approach demonstrates ZKB's commitment to maintaining strict security standards while expanding the reach of digital currencies.

ZKB's entry into the cryptocurrency market highlights a broader trend in the banking sector. Competitors such as PostFinance are also exploring crypto services, reflecting the growing acceptance of digital currencies in traditional finance, paving the way for more integrated and accessible cryptocurrency solutions.