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.
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.