Zürcher Kantonalbank (ZKB), Switzerland’s largest cantonal bank, has successfully integrated Avaloq’s digital asset platform into its core banking systems and digital channels. The partnership “addresses growing market demand for trading and custody of digital assets”, claims a press release from the technology provider.
With the integration, ZKB can now offer clients the convenience of trading, managing, and storing both traditional and digital assets on a single platform. Georges Roten, managing director for Switzerland and Liechtenstein at Avaloq advises that traditional financial institutions put in place “the right strategy and technology in place to seamlessly integrate digital assets into their existing range of services”.
Leveraging the digital asset custody and infrastructure capabilities of its partner, Fireblocks, the Avaloq platform is deployed on the cloud, and managed in a software as a service (SaaS) model.
Michael Rausch, project lead digital assets at ZKB says that the integration “bridges the gap between decentralised and traditional finance, providing our clients with secure access to trading and custody of digital assets”.
