According to TechFlow, on September 4, Zurich Cantonal Bank (ZKB), one of the four largest banks in Switzerland, announced the launch of cryptocurrency services for retail customers and third-party banks. ZKB is the largest cantonal bank in Switzerland and is wholly owned by the Canton of Zurich.

ZKB has established a strategic partnership with Crypto Finance, a subsidiary of Deutsche Börse Group, which holds FINMA and BaFIN licenses. ZKB develops its own cryptocurrency custody solutions and cooperates with Fireblocks to enhance its technical capabilities.

ZKB customers can trade Bitcoin and Ethereum through mobile banking applications, online banking platforms and other channels. Some Swiss wealth management companies have provided crypto services for many years, but services for retail customers are still in the early stages of development. PostFinance will be the first to provide cryptocurrency services to retail customers in early 2024 through cooperation with Sygnum Bank.