December 5, 2023

Another Swiss bank introduces crypto services

Arab Bank Switzerland will allow its wealthy clients to trade and store bitcoin andethereum. The crypto startup Taurus will help the financial institution with this. 

Arab Bank Switzerland will offer customers BTC and ETH

Swissinfo reports that Arab Bank Switzerland will start providing "new digital services" to its wealthy clients.In particular, the financial institution will offer custodial and brokerage services for the two largest cryptocurrenciesBy market capitalization – Bitcoin and Ethereum. 

The bank plans to store assets on the platform of the blockchain startup Taurus. 

According to the financial institution, "blockchain will reshape the financial industry," and therefore the bank wants toBe one of the first to offer customers access to "safe and regulated" crypto assets.

  • Taurus has already partnered with the Swiss bank Bank Vontobel.The startup also providesservices for the safe storage of crypto assets 
  • On September 18, the American bank Wells Fargo announced the testing of a blockchain platform with a stablecoin for domestic international transfers