Swiss Banking Giant ZKB Dips Its Toes into the Crypto Pool

Imagine walking into your local bank and being able to buy Bitcoin as easily as you would deposit a check. Well, that’s becoming a reality in Switzerland. Zurich Cantonal Bank, or ZKB for short, is now offering its customers the opportunity to buy, sell, and store cryptocurrencies like Bitcoin and Ethereum. This is significant because ZKB isn’t just any bank – it’s the fourth largest in Switzerland! Making Crypto Easy for Everyone ZKB isn’t just placing crypto in a separate app or making you jump through hoops. They’ve integrated it directly into their regular online banking and mobile apps. This means you can trade crypto whenever you want, day or night, just like checking your regular account balance. Alexandra Scriba, a key figure at ZKB, emphasizes that it’s all about making things simple and secure for their customers. You don’t have to worry about complicated crypto wallets or keeping track of different passwords (known as private keys). ZKB takes care of all that for you.

More Than Just for ZKB Customers

Here’s wherein it gets even greater exciting. ZKB isn’t always keeping this crypto provider all to themselves. They’re letting other, smaller banks use it too. In reality, some other financial institution called Thurgauer Kantonalbank is already on board. It’s like ZKB is announcing, “Hey, we figured out this crypto element, why don’t you operate our gadget too?” ZKB did not build all this on their own, although. They’ve teamed up with a company referred to as Crypto Finance AG to deal with the real buying and selling component. This agency is a part of a larger German stock alternate institution, in order that they recognise their stuff on the subject of buying and selling. This isn’t ZKB’s first rodeo with new financial tech. They’ve been gambling round with some thing known as blockchain for some time now. In 2021, they helped create the sector’s first digital bond on a unique trade. And simply closing yr, they have been concerned in a mission with Switzerland’s crucial financial institution to test out virtual money.