ZKB started offering cryptocurrencies to retail customers and third-party banks today. Crypto Finance, a Deutsche Börse-owned digital asset firm licensed by FINMA and BaFIN, was its crypto asset brokerage partner. Fireblocks is a partner, but the bank designed its own crypto custody system.
Zurich-owned ZKB is one of Switzerland's four main banks and the biggest cantonal bank. Global Finance named it the second safest bank in the world for 2023 based on AAA ratings by Fitch, Moody's, and S&P and total assets.
ZKB's mobile banking app, eBanking, and other channels allow Bitcoin and Ether trading.
ZKB Head of Digital Asset Solutions Peter Hubli stated, “With Crypto Finance, we have an experienced, regulated, and competent partner at our side with long lasting industry expertise, mastering the facets of the crypto business.”
Switzerland is known for supporting crypto, and certain money managers have provided crypto services for years. But retail offers are different. PostFinance, in conjunction with Sygnum Bank, was the first of Switzerland's main four banks to provide bitcoin services this year.