Zurich cantonal bank is now starting crypto trade: Bitcoin and Ethereum available
Zurich cantonal bank is now starting crypto trade: Bitcoin and Ethereum available
The provision of cryptocurrency services by the Zurich cantonal bank (ZKB) opens up new perspectives for their customers. Since yesterday, ZKB customers have been able to act with Bitcoin and Ethereum, which the bank puts in the series of its already crypto-friendly group siblings. The pioneers in this area include the Zuger, Lucerne and St. Gallen cantonal banks, which gave access to digital currencies a few months ago.
With this decision to integrate the trade of cryptocurrencies into the already familiar e-banking and mobile banking system, the ZKB takes a significant step towards digital transformation. Users can now manage both traditional securities and cryptocurrencies in a single place.commercial options and fee structure
The focus is on Bitcoin and Ethereum at the start of the new service. The ZKB not only enables its customers buying and selling these digital currencies, but also safe storage. A special feature is that the stocks are integrated into the existing deposit overview, which offers a clear and clear management of the systems.regardless of the time, users can act around the clock. The handling takes place via Crypto Finance, a subsidiary of the Deutsche Börse Group, which guarantees the safety and efficiency of trade. As far as the fees are concerned, digital trade is associated with a set of 1.0 percent on the first CHF 250,000. For amounts of over CHF 250,000, the sentence drops to 0.75 percent. However, this does not apply to trading on traditional channels such as telephone or letter, where the ZKB charges an additional fee of 1.0 percent.
In addition, customers must also consider foreign currency surcharges. With regard to the custody fees, the ZKB charges an annual fee of 0.5 percent, with a minimum amount of CHF 5 per month. This price structure is crucial because it gives customers clarity about the cost of trade in cryptocurrencies.
future prospects and cooperation with third -party banks
Another crucial element of the new initiative is the business-to-business solution of the Zurich Kantonalbank, which not only benefits its own customer. The ZKB plans to give access to other Swiss banks in order to also offer their customers the trade and safe custody of cryptocurrencies. As the first partner bank, the Thurgauer Kantonalbank is already integrated and the ZKB is preparing for the cooperation of other banks.
This development could intensify the competition within the banking landscape and offer customers numerous new opportunities to interact with digital currencies. The ZKB not only relies on the growing interest in cryptocurrencies, but also underlines its role in the modern financial world. The integration of cryptododes into the banking system shows that digital currencies are increasingly regarded as part of the mainstream.
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