Arab Bank Switzerland announced Tuesday it will integrate trading, staking and custody services onto Tezos’ native token (XTZ). This is in an effort to create a digital asset ecosystem for corporations, individuals and institutions.
Tezos, a 50-year-old institution, partnered with Tezos to benefit from the ecosystem’s focus on energy conservation and low-gas fees.
Rani Jabban, Managing Director at Arab Bank Switzerland, commented on the ambitions of the institution following the announcement.
Digital Assets are an integral part of our strategy. They require strong agility and must comply with all security standards. Our mission is to bring together tradition and modern innovation. Tezos’s scalability and high-quality governance, as well as its stake possibilities, fit perfectly into our vision.”
The lenient regulations in Switzerland have allowed Swiss banks to be prominent leaders in the adoption of digital assets by the crypto community.
SEBA Bank AG, a Swiss bank institution, was granted a CISA license by FINMA last week to enable a premium custodial service to Swiss collective investment schemes.
Analytical data from Cointelegraph Markets reveals that the Tezos token has experienced a continuation of bullish growth this week, rising 45.50% following a parabolic couple of months for the asset. Much of this technical momentum is due to the platform’s nonfungible (NFT) facilitation last month — a move that encouraged a partnership with U.S. musician Doja Cat.