March 28, 2024

Swiss State Bank to launch cryptocurrency service

Swiss State Bank to launch cryptocurrency service

Basler Kantonalbank (BKB) plans to become the first Swiss state-owned commercial bank to offer cryptocurrency services.

BKB division together with the nationalBanking group Bank Cler began to develop products that will allow customers to exchange and store digital currency. Representatives of the financial institution say that work in this direction has been stimulated by the increased demand for crypto services in the country.

The project is at the initial stage of development, so BKB has not yet announced even an approximate datelaunch and does not specify with whichcryptocurrency plans to work. It is also possible that the bank will offer new products through its subsidiary, which has its own banking license.

This news once again confirms that Switzerlandis one of the most cryptocurrency-friendly countries. Let us recall that since June 2020, the local financial regulator began issuing permits to banks to conduct transactions with digital assets.

</p>