Zürcher Kantonalbank Expands into BTC and ETH Trading

Switzerland's Zürcher Kantonalbank (ZKB), the fourth-largest bank in the country, has made a significant move into the digital assets space, expanding its services to include trading and secure storage for leading cryptocurrencies such as Bitcoin and Ethereum. This new offering, announced on September 4, is set to be available to ZKB customers 24/7 through the bank’s existing eBanking and Mobile Banking platforms.

This innovative service is the result of a collaboration between ZKB and Crypto Finance AG, a subsidiary of the Deutsche Börse Group, allowing the bank to provide seamless and secure access to digital assets. Alexandra Scriba, who leads Institutional Clients & Multinationals at ZKB, emphasized the robust security measures embedded in the service. By managing the private keys on behalf of customers, ZKB eliminates the need for individuals and third-party banks to maintain their own wallets, simplifying the process of cryptocurrency management.

Moreover, ZKB is extending its crypto expertise beyond its own customer base. The bank is now offering a business-to-business solution that enables other Swiss banks to provide cryptocurrency trading and custody services to their clients. Thurgauer Kantonalbank has already become the first to leverage this service, marking a significant step in the wider adoption of digital assets within traditional financial institutions.

This development is part of a larger trend where established financial institutions are increasingly embracing cryptocurrencies. In the US, the success of Bitcoin and Ethereum exchange-traded funds (ETFs) has driven a surge in institutional interest. Cantor Fitzgerald’s CEO, Howard Lutnick, recently highlighted Bitcoin’s growing importance in traditional finance, noting that its acceptance as a mainstream asset is rapidly accelerating. As more financial giants like ZKB enter the crypto space, the integration of digital assets into the traditional financial system is poised to expand even further.