Bitcoin And Ether Step From Switzerland's Largest 5Th Bank

Zürcher Kantonalbank (ZKB), one of Switzerland's leading banks, has announced plans to provide its customers with the opportunity to invest in cryptocurrencies. This move reflects the increasing interest of the traditional financial sector in cryptocurrencies.

Switzerland's fifth-largest bank, St. Galler Kantonalbank, has announced that it is launching Bitcoin and Ether services for its private clients. The bank will provide custody and trading services for both cryptocurrencies.

Additionally, the bank mentioned that more cryptocurrencies would be added to the platform in the near future, although specific details were not provided. St. Galler Kantonalbank will be partnering with SEBA Bank, another Switzerland-based company, for its cryptocurrency services. The two institutions signed a contract earlier this year and subsequently began trials.

St. Galler Kantonalbank is one of the significant regional banks in Switzerland, with a portion of the institution being government-owned.

SEBA Bank, on the other hand, is able to provide digital asset services to banking institutions thanks to its banking license from FINMA, the Swiss regulator.

Switzerland is known for taking significant steps in the cryptocurrency space, despite being one of the world's wealthiest countries. In the city of Lugano, near the Italian border, Bitcoin, USDT, and the city's own token, LVGA, can be used for expenditures.