Switzerland’s 4th largest bank ZKB launches Bitcoin and Ethereum trading

• Zurich Cantonal Bank (ZKB) now offers Bitcoin and Ethereum trading via ZKB eBanking and Mobile Banking.
• The bank has partnered with Crypto Finance AG and will use Fireblocks for secure custody.
• The services are only accessible to Swiss residents who have signed the necessary agreements.

Zurich Cantonal Bank, Switzerland’s fourth-largest bank, known locally as Zürcher Kantonalbank (ZKB), has made a major move into the cryptocurrency space with the launch of Bitcoin (BTC) and Ethereum (ETH) trading services.

Announced on September 4, this development marks an important milestone in the widespread adoption of digital currencies by traditional financial institutions.

ZKB Partners with Crypto Finance AG and Fireblocks

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

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

Crypto Finance AG’s technology, authorized by FINMA and BaFin, will support ZKB’s trading operations, ensuring compliance and security.

ZKB has also developed its own cryptocurrency custody solution, with Fireblocks playing a key role in protecting digital assets.

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

According to Alexandra Scriba, head of institutional clients at ZKB, the bank’s approach offers high levels of security and the potential to integrate other digital currencies and applications in the future.

Currently, cryptocurrency trading services are only available to clients residing in Switzerland and to activate an account, clients must sign trading agreements, securities and a “declaration of consent”.

This cautious approach reflects ZKB’s commitment to maintaining robust security standards while expanding access to digital currencies.

ZKB’s entry into the cryptocurrency market underscores a broader trend within the banking sector, where institutions are increasingly embracing digital assets. Competitors like PostFinance are also exploring cryptocurrency services, highlighting a growing acceptance of digital currencies in traditional finance, paving the way for more integrated and accessible cryptocurrency solutions.