Ethereum

Bank

Cryptocurrency

2024

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/zurich-cantonal-bank-offers-crypto-trading-services/" data-wpel-link="internal">Zurich Cantonal Bank Offers Crypto Trading Services</a> 
You can read this news on COINTURK: 
Bitcoin (BTC) is heading towards new lows as expected and retested $55,000 today. However, there is also <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">good news</a>. The increasing institutional interest in cryptocurrencies has reached a point where banks cannot remain indifferent. In Turkey, Garanti BBVA Bank took the first step, and now one of Switzerland’s largest banks has taken action for two major cryptocurrencies. 
<h2 style="text-align: justify" id="zurich-cantonal-bank-and-crypto">Zurich Cantonal Bank and Crypto</h2> 
For individual customers and third-party banks, Zurich Cantonal Bank has started offering cryptocurrency services as of today. Partnering with a company named Crypto Finance for this job, the bank will provide these services on a legal basis. Crypto Finance is managed by Deutsche Börse, which holds FINMA and Germany’s BaFIN licenses. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-385644 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/Isvicre-Kripto.png" alt="" width="667" height="320"> 
ZKB, one of the country’s four major banks, is also the largest cantonal bank in the Zurich region. Moreover, it is a highly reputable institution with a AAA rating from Fitch, Moody’s, and S&amp;P. In fact, in 2023, rating agencies announced it as the second safest bank in the world. 
<h2 style="text-align: justify" id="buying-cryptocurrency-from-the-bank">Buying Cryptocurrency from the Bank</h2> 
As of today, ZKB customers can buy and sell Bitcoin (BTC) and Ethereum (ETH) directly through the mobile banking application. For cautious <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> who see centralized <a href="https://en.coin-turk.com/ftx-collapse-leaves-prominent-figures-including-tom-brady-with-huge-losses/" data-wpel-link="internal">cryptocurrency exchanges</a> as less secure, especially after bad examples like FTX, such alternatives will also increase liquidity inflow into the markets. 
The bank’s Head of Digital Asset Solutions, Peter Hubli, said: 
<blockquote> 
 “With Crypto Finance by our side, we have a long-term industry-experienced, regulated, and competent partner who is familiar with the aspects of the crypto business.” 
</blockquote> 
Although ZKB has taken a big step, it is not the first bank to move in this direction. In 2021, BBVA Switzerland was the first to make a name for itself. Another of the country’s four major banks, PostFinance, offered cryptocurrency services in early 2024 in partnership with Sygnum. 
The increasing interest of banks and the entry of such reputable institutions into the crypto business is motivating for all investors. 
The post <a href="https://en.coin-turk.com/zurich-cantonal-bank-offers-crypto-trading-services/" data-wpel-link="internal">Zurich Cantonal Bank Offers Crypto Trading Services</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Zurich Cantonal Bank Offers Crypto Trading Services

Table of Contents

COINTURK NEWS

Other articles published on Sep 4, 2024

Bitfarms Expands U.S. Presence with Stronghold Acquisition Amid Production Drop

NiceHash Expands Mining Capabilities for Alephium ASIC Devices

Magic Eden dominates NFT market as its share nears 37%: CoinGecko

Samsung joins forces with Sony to support Soneium blockchain incubator

Pro-Crypto Lawyer John Deaton Wins Republican Primary, Setting Up Senate Showdown With Elizabeth ...

XRP's Consolidation Signals Breakout Amid High Volatility

Join our free newsletter for daily crypto updates!