Switzerland’s Fourth-Largest Bank Introduces Bitcoin Trading Services

Zürcher Kantonalbank (ZKB), Switzerland’s fourth-largest financial institution, has launched Bitcoin trading and custody services for its customers. 

Managing assets exceeding $290 billion, ZKB serves retail, corporate, and institutional clients.

ZKB now offers clients the ability to trade and store Bitcoin with other digital assets via its mobile app, online banking, and traditional services. 

The bank has partnered with Crypto Finance AG, a subsidiary of Deutsche Börse, for brokerage support and developed its own in-house custody platform.

This move reinforces Switzerland's progressive stance on Bitcoin, positioning ZKB as one of the largest traditional banks to embrace the digital asset. 

The Swiss National Bank has also signaled openness to Bitcoin, notably holding shares in MicroStrategy, a Bitcoin-focused company.

As Bitcoin's acceptance grows globally, more major financial institutions are offering services for the asset. In the U.S., Bitcoin ETFs have gained traction, prompting increased institutional adoption. 

ZKB’s entry into the Bitcoin and crypto space could influence other Swiss and European banks to follow suit.

Globally, traditional banks like Hong Kong's Futu and Standard Chartered's Mox have recently launched Bitcoin trading services, signaling a broader trend of traditional finance embracing digital assets.