Arab Bank Switzerland announced that it is launching trading, staking, and custody services onto XTZ, Tezo’s token.
The Swiss institution is a subsidiary of the Arab Bank and serves as a bridge between Arabia and the Western countries. The new services will provide a virtual asset ecosystem to several institutions, companies, and important names in the financial field.
The bank chose Tezos for this collaboration because of its low gas fees, energy efficiency, and very fast upgrades. Tezos was created to adapt and add functionality through its advanced mechanism.
“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.”
Banks are becoming increasingly interested in virtual currencies.
BTG Pactual, Latin America’s largest investment bank, launched in September a crypto trading platform that simplifies operations for its customers.
The bank is the first major financial institution in Brazil to get involved in digital currency markets. The platform, which is called Mynt, allows users to now make immediate investments in virtual currencies.
Only bitcoin (BTC) and ether (ETH) are available for trading at the moment. But BTG Pactual intends to support other tokens in the future. The new feature was created in response to a growing demand for these types of assets by customers.
“At this first moment, we will have the two main assets of the market, but we will include other cryptos for trading over time. We will have a complete platform with blockchain-based assets.”
Roberto Sallouti, CEO of BTG Pactual, said that the platform will also offer educational content. This information will help users understand digital currencies and the blockchain technology they are created on. “As a new asset class, we will also have content to educate and inform our customers about these assets and the technology.”
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