Bitcoin (BTC) is running at new lows as expected and retested $55,000 today. But there is good news too. Crypto The increasing institutional interest in currencies has reached a point where banks cannot remain indifferent. Garanti BBVA Bank in Turkey took the first step and now one of the largest banks in Switzerland has taken action for 2 major cryptos.
Zurich Cantonal Bank and Crypto
Zurich Kantonal Bank for individual customers and third-party banks as of today crypto money has launched its services. The bank, which has partnered with a company called Crypto Finance for this business, will provide these services with a legal basis. Crypto Finance is managed by Deutsche Börse, which has FINMA and Germany’s BaFIN licenses. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
ZKB, one of the country’s four largest banks, is also the largest cantonal bank in the Zurich region. Moreover, it is a highly reputable institution with an AAA rating from Fitch, Moody’s and S&P. In fact, in 2023, rating agencies announced it as the second safest bank in the world.
Getting Cryptocurrency from the Bank
As of today, ZKB customers can directly use the mobile banking application Bitcoin (BTC) And Ethereum (ETH) will be able to buy and sell. For cautious investors who see centralized cryptocurrency exchanges as much less secure, especially after bad examples like FTX, the emergence of such alternatives will also increase the liquidity inflow to the markets.
Peter Hubli, Head of Digital Asset Solutions at the bank, said:
“With Crypto Finance, we have an experienced, regulated and competent partner with long-standing industry expertise who is well-versed in aspects of the crypto business.”
Although ZKB has taken a big step, it is not the first bank to take action in this regard. BBVA Switzerland ranked first in 2021. PostFinance, one of the country’s four largest banks, offered cryptocurrency services in partnership with Sygnum at the beginning of 2024.
The increasing interest of banks and the entry of such reputable institutions into the crypto business is motivating for all investors.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
