Arab Bank Switzerland enabled the storing and trading of Tezos
Arab Bank Switzerland, the sister bank of Arab Bank Plc, one of the biggest banks in the Middle East, has announced that it will enable its institutional clients to store, stake, and trade Tezos XTZ – the native cryptocurrency of the popular blockchain project Tezos. Arab Bank has partnered with Tezos to provide clients with innovative, compliant on-chain digital financial products.
Rani Jabban, Arab Bank Switzerland Managin Director stated, As a pioneer in the private banking industry, having started our digital assets services in 2019, we will always endeavor to offer best of class assets and financial services to our clients, Digital Assets are a cornerstone of our strategy, requiring strong agility while complying with the highest security standards. Our mission is to bridge tradition and cutting-edge innovation. Tezos, with its scalability, high-quality governance, and staking possibilities, fits perfectly within our vision.”
Tezos already has experience with working with large banks. Back in April this year, the protocol partnered with Societe Generale as the French institution wanted to employ the Tezos blockchain to issue its own security token.
Prior to this Arab Bank Switzerland in September of 2021 announced that it would launch a new range of digital asset services, including custody and brokerage of Bitcoin and Ethereum, becoming one of the first private banks in Europe to offer digital asset services to its high net worth clients.
As per the press release, the launch aims to answer growing demand from existing and younger clients who seek to include digital assets as one asset class in their diversified portfolios. Arab Bank (Switzerland) Ltd. intends to make buying and holding Bitcoin and Ethereum – as well as additional digital assets in the near future – as accessible and efficient as any other traditional investment.
Arab Bank invested as well in fintech startup Taurus and Blockchain payments firm Veem.
