The total assets under management will be approximately 450 billion Swiss francs (approximately 76.46 trillion yen) as of the end of 2023. This cryptocurrency (virtual currency) service will be available from ZKB's existing mobile app.
The access is made possible through a partnership with Crypto Finance, a cryptocurrency brokerage under a German exchange.
Other Swiss banks are also looking to use the new service to provide cryptocurrency trading and storage services.
This will allow the bank to offer its customers a comprehensive, easy-to-use and secure online banking service. Thurgauer Kantonalbank is the first partner bank to offer this service.
ZKB was involved in the issuance of the world's first blockchain-based digital bond on Switzerland's SIX Digital Exchange (SDX) in 2021 and is engaged in cryptocurrency-related businesses.
As Bitcoin's legitimacy grows, major financial institutions are increasingly moving to adopt Bitcoin and altcoins. In the United States, Bitcoin and Ethereum ETFs have been successful.
ZKB's move could put pressure on other Swiss and European banks to offer Bitcoin services as well.
2024/09/06 10:56 KST
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