In collaboration with Fireblocks, Zürcher Kantonalbank (ZKB), one of Switzerland’s banks, has implemented Avaloq’s scalable and secure digital asset platform.
The bank’s latest service responds to the expanding market need for digital asset trading and custody. Zürcher Kantonalbank uses Avaloq’s cloud-deployed digital asset platform, which is managed via a software as a service (SaaS) approach.
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Financial institutions can include digital assets into their service offerings using Avaloq’s turnkey solution.
Digital asset trading, settlement, and custody are made possible by the Avaloq platform, which also makes sure that financial institutions can effectively control risk, reduce transaction costs, and adhere to legal requirements.
The platform makes use of Avaloq’s partner Fireblocks’ competitive infrastructure and digital asset custody capabilities. It also facilitates reliable trading and management of both traditional and digital assets for financial institutions and their clients through its seamless interaction with core banking systems and digital channels.
Furthermore, Zürcher Kantonalbank may take advantage of ongoing innovation and quick time to market for new services because of Avaloq’s SaaS capabilities.
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By GlobalDataBanks and wealth managers can use Avaloq’s digital asset platform regardless of whether they operate their core banking systems in a SaaS or on-premises manner.
Michael Rausch, project lead digital assets at Zürcher Kantonalbank, stated: “This innovative offering bridges the gap between decentralised and traditional finance, providing our clients with secure access to trading and custody of digital assets. We are looking forward to further collaboration in which we continue to rely on Avaloq’s proven integration and innovation capabilities.”
Georges Roten, managing director for Switzerland, and Liechtenstein at Avaloq, added: “We are proud of this latest milestone in our partnership with Zürcher Kantonalbank. This achievement reflects the bank’s commitment to innovation and to offering comprehensive financial services for its clients. As the market environment and client expectations continue to evolve, it is vital that traditional financial institutions have the right strategy and technology in place to seamlessly integrate digital assets into their existing range of services. Together with our ecosystem of partners, we are dedicated to providing solutions for digital assets that enable firms to stay ahead of evolving market trends.”
