Outside Source
Zurich Cantonal Bank will take on the function of securely storing the private keys for its customers, according to exec Alexandra Scriba.
News
Own this piece of crypto history
Zurich Cantonal Bank, one of the largest banks in Switzerland, is the latest banking institution to enable cryptocurrency trading for its customers.
According to the official announcement on Sept. 4, Zurich Cantonal Bank is now offering trading and custody services for Bitcoin (BTC) and Ether (ETH). “The offer is seamlessly integrated into the existing channels and is aimed equally at customers and third-party banks,” the bank said.
Known locally as Zürcher Kantonalbank (ZKB), Zurich Cantonal Bank is the largest cantonal bank and the fourth largest bank in Switzerland, with total assets of 200 billion Swiss francs ($235 billion).
According to the announcement, ZKB customers will be able to trade cryptocurrencies 24/7 directly through the ZKB eBanking or ZKB Mobile Banking platforms. The bank noted that “the cryptocurrency holdings will be integrated into the existing portfolio view,”
“Our newly launched offering in the area of cryptocurrencies offers a high level of security and allows the integration of other currencies and applications,” ZKB’s head of institutional clients, Alexandra Scriba, said. She added:
“When it comes to cryptocurrencies, ZKB takes on the critical function of securely storing the private keys. Customers and third-party banks therefore do not need their own wallet and therefore do not have to worry about storing their own private keys. ZKB takes care of both.”
This is a developing story, and further information will be added as it becomes available.
This article first appeared at Cointelegraph.com News
