TechFlow News, September 4 — According to Ledger Insights, Zürcher Kantonalbank (ZKB), one of Switzerland’s four major banks, officially announced on September 4 the launch of cryptocurrency services for retail clients and third-party banks. ZKB, the largest cantonal bank in Switzerland, is wholly owned by the Canton of Zurich. Based on Global Finance’s 2023 assessment report, ZKB was ranked the second-safest bank globally, backed by AAA ratings from Fitch, Moody’s, and S&P, along with its total asset size.
In digital asset brokerage, ZKB has formed a strategic partnership with Crypto Finance, a digital asset firm under Deutsche Börse Group. Crypto Finance holds licenses from the Swiss Financial Market Supervisory Authority (FINMA) and Germany’s Federal Financial Supervisory Authority (BaFin), ensuring strong regulatory compliance. ZKB stated it has independently developed its own cryptocurrency custody solution and is collaborating with blockchain infrastructure provider Fireblocks to further strengthen its technological capabilities.
Following this service upgrade, ZKB customers can now trade Bitcoin and Ethereum through the bank’s mobile banking app, online banking platform, and other designated channels. Notably, while Switzerland is globally recognized as a crypto-friendly jurisdiction and some wealth management firms have offered crypto services for years, retail-focused crypto offerings are still in their early stages. Among Switzerland’s four major banks, PostFinance became the first to offer retail crypto services in early 2024 through a collaboration with Sygnum Bank.
