Known for its very favorable regulations for cryptocurrencies, Switzerland is making great strides in the adoption process. Since this 1er October, customers of ZUKB, the cantonal bank of Zug, no longer have to look elsewhere to invest in cryptocurrencies. The institution has just added to its range of offers, services for the purchase, sale, trading and custody of cryptocurrencies. ZUKB thus becomes the first Swiss public bank to offer its clients access to crypto markets. Details below.
ZUKB offers fiat and crypto services on the same mobile banking app
ZUKB clients interested in investing in cryptocurrencies can now rub their hands. Indeed, with an active account, the bank allows them to invest in a wide range of cryptocurrencies. They will be able to invest in bitcoin, ether, ripple, polygon, uniswap, etc. The announcement was made this Monday 1er october.
In the press release, Hanspeter Rhyner, CEO of ZUKB, explained that there is a growing demand for cryptocurrencies. It was necessary to offer investors “simple and reliable access to the crypto market, without them having to leave the banking environment to which they are accustomed”.
The crypto offer was therefore directly integrated into the bank’s mobile banking application. This allows clients to manage their traditional assets and crypto assets from a single platform. Established in the heart of Crypto Valley, ZUKB is now entering the circle of players in the merger between traditional finance and the crypto universe. As for Switzerland, it thus confirms its status as a welcoming land for crypto.
A collaboration with the world’s first digital asset bank
The feat achieved by ZUKB is actually the result of a partnership with the Swiss bank Sygnum, the first digital asset bank in the world. Sygnum provided the modular B2B platform for the smooth and secure integration of ZUKB’s offering into the existing banking infrastructure.
It thus offers the guarantee of security of crypto assets and compliance with the requirements of the Federal Financial Market Supervisory Authority. The bank’s CEO indicated that the “partnership with Sygnum [….] constitutes a solid basis for the future development” of ZUKB. The 131-year-old financial institution intends to “expand this new offering to other crypto assets” if it receives the expected reception.
The bank also collaborates with Swisscom, Swiss leader in the telecommunications sector. Swisscom is responsible for developing the technology platform and infrastructure that supports ZUKB’s offering.
Clearly, Switzerland is not wasting time. We can say that it has found the best formula to take the lead in crypto adoption globally.
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