The Bank of Switzerland’s fourth-largest bank, Zurich Cantonal Bank, has gone ahead to offer Bitcoin and Ethereum trading services. They are now able to trade these cryptocurrencies right alongside traditional market securities, which is a first step into the world of digital assets. The bank has more than CHF 150 billion in assets and also added cryptocurrency trading as a feature to the ZKB mobile banking application, allowing users to start investing in the crypto market.

This new service enables customers to purchase and sell Bitcoin and Ethereum and use them for transactions and payments without owning a traditional digital currency wallet, as banks possess all the cryptocurrency and guardianship data securely. However, the service is currently limited to customers from Domizil Switzerland, and to avail of it, the client has to enter a trading and security agreement and Consent Declaration Disclosure. All the cryptocurrency transactions are made in US dollars but those in Swiss Franc have to go through currency conversion.

The bank is joining the crypto by the time that Bitcoin and Ethereum became the first cryptocurrencies that were available through a US-based ETF in the year. Regarding the merging of traditional finance with cryptocurrencies, Zurich Cantonal is yet another example of the process and infrastructure that allows customers to expand their knowledge and investment in digital forms of assets safely.