Swiss cantonal bank Basler Kantonalbank becomes the first bank in Switzerland to announce its crypto plans.
Basler Kantonalbank, or BKB, a government-owned commercial bank in Switzerland, is planning to launch cryptocurrency services through its banking subsidiary.
According to an Aug. 3 report by local news agency Finews, BKB’s subsidiary and a national banking group, Bank Cler, are working on services that will allow customers to trade and store cryptocurrencies.
The BKB representative said:
“In the BKB Group, we are working to offer our clients a solution for the trading and deposit of selected cryptocurrencies.”
Home to the infamous “Crypto Valley,” Switzerland is known as one of the most crypto-friendly jurisdictions in the world.