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The third largest Cantonal bank in Switzerland, Lucerne Cantonal Bank (LUKB), has made a groundbreaking move in the country’s financial sector.&nbsp;
According to the <a href="https://www.lukb.ch/ueber-uns/medien/news/lancierung-transfer-kryptowaehrungen" rel="noopener noreferrer nofollow">announcement</a>, the bank is <a href="https://thecoinrise.com/is-bitcoin-legal/" rel="noopener noreferrer nofollow">offering its clients the ability to deposit and withdraw Bitcoin</a> and <a href="https://thecoinrise.com/how-to-use-ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> (ETH). Starting on October 1, 2024, LUKB will become the first traditional bank in the country to integrate cryptocurrencies into its core banking services.&nbsp;
<h2 id="b-lucerne-cantonal-bank-to-cater-for-retail-and-institutional-clients-b">Lucerne Cantonal Bank to Cater for Retail and Institutional Clients</h2>
This initiative is a step toward merging conventional banking with the rapidly growing world of digital assets. Meanwhile, the bank’s clients will buy, sell, deposit, and withdraw Bitcoin and Ethereum through their existing bank accounts. This means LUKB customers can manage their crypto assets alongside their traditional holdings. This move simplifies access and provides peace of mind through secure, regulated banking channels.&nbsp;
Additionally, the bank aims to cater to both retail and institutional clients. It depends on recognized security standards for the custody of its cryptocurrencies. As more banks worldwide explore similar offerings, LUKB’s move could set a precedent in the traditional banking sector. This development underscores the growing acceptance of digital currencies as a legitimate part of the financial landscape.
<h2 id="b-zurich-cantonal-bank-ventures-into-crypto-trading-b">Zurich Cantonal Bank Ventures Into Crypto Trading</h2>
Earlier in the month, the fourth largest institutional bank in Switzerland, <a href="https://thecoinrise.com/zurich-cantonal-bank-ventures-into-bitcoin-and-ethereum-trading/" rel="noopener noreferrer nofollow">Zurich Cantonal Bank introduced cryptocurrency trading</a> to its users alongside traditional securities. Crypto participants in the region can now buy and sell Bitcoin and Ethereum while safeguarding security-related access information.
Meanwhile, the bank assured effective data security that can protect users. The bank mentioned that while it tends to be more centralized, it provides a user-friendly gateway for beginners in the asset class. It was noted that only customers based in Switzerland can access the floated digital assets. They will sign a trading and security agreement and a “Consent Declaration Disclosure.”
<h2 id="b-bitcoin-and-eth-lead-the-digital-economy-landscape-b">Bitcoin and ETH Lead the Digital Economy Landscape</h2>
In the rapidly changing world of crypto, Bitcoin and Ethereum shine as the two most established assets. These crypto assets shape the digital future with distinct roles and growing influence. In 2024, these virtual assets, especially Bitcoin, saw notable adoption from <a href="https://thecoinrise.com/institutional-investors-pile-into-bitcoin-high-expectations-for-etf-rollup/" rel="noopener noreferrer nofollow">institutional investors and various trading platforms.</a>&nbsp;
Also, Bitcoin and Ethereum emerged as the first digital assets to <a href="https://thecoinrise.com/us-sec-grants-official-approval-for-a-spot-bitcoin-etf/" rel="noopener noreferrer nofollow">receive approval</a> for crypto-based Exchange-Traded Fund (ETF) in the United States. Financial institutions in countries such as Hong Kong, Australia, and <a href="https://thecoinrise.com/thailand-joins-western-countries-to-launch-spot-bitcoin-etf/" rel="noopener noreferrer nofollow">Thailand have also approved these digital investment offerings</a>.
The post <a href="https://thecoinrise.com/lucerne-cantonal-bank-launches-bitcoin-and-ethereum-services/" rel="noopener noreferrer nofollow">Lucerne Cantonal Bank Launches Bitcoin and Ethereum Services</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Lucerne Cantonal Bank Launches Bitcoin and Ethereum Services

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