Crypto Finance AG, a Deutsche Börse Group company, has announced a new partnership with Zürcher Kantonalbank (ZKB). The collaboration, which began on September 4, 2024, will enhance ZKB’s cryptocurrency services, targeting retail customers and third-party banks.
Expanded Cryptocurrency Services
Through this partnership, ZKB will integrate Crypto Finance’s digital asset solutions into its existing platforms. Customers will be able to trade major cryptocurrencies such as Bitcoin and Ether using ZKB’s mobile app, eBanking services, and other recognized channels.
This development marks a significant step in integrating digital assets into traditional financial systems. It underscores Switzerland’s growing reputation as a leader in financial technology and digital innovation.
Impact on the Financial Sector
The launch of ZKB’s new cryptocurrency service highlights the increasing acceptance of digital assets by established financial institutions in Switzerland and across Europe. Financial entities are recognizing the substantial potential of cryptocurrencies, which are becoming a more integral part of their service offerings.
Peter Hubli, Head of Digital Asset Solutions at ZKB, commented on the partnership: “With Crypto Finance, we have an experienced, regulated, and competent partner at our side with long-lasting industry expertise in the crypto business.”
Stijn Vander Straeten, CEO of Crypto Finance AG, expressed enthusiasm about the collaboration: “We are very proud to support Switzerland’s largest Kantonalbank in the launch of their crypto offering. This represents a crucial milestone for the broader acceptance of cryptocurrencies in Switzerland. We look forward to working with ZKB.”
Growth in Cryptocurrency Wealth
According to the Crypto Wealth Report 2024 by Henley & Partners, there has been a significant increase in cryptocurrency wealth. The report reveals that there are currently 172,300 individuals globally holding over $1 million in crypto assets, marking a 95% increase from the previous year. Additionally, the number of Bitcoin millionaires has surged to 85,400, a 111% increase.
This report highlights the growing prominence of cryptocurrencies among high-net-worth individuals and further emphasizes the expanding role of digital assets in the global financial landscape.
Original Source
“Crypto Finance teams up with Zürcher Kantonalbank” was originally created and published by Private Banker International, a GlobalData-owned brand.
