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.”
Related: Tezos may correct below record high, XTZ rallying 250% depuis July
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.
Cointelegraph Markets’ analysis shows that Tezos token is continuing to experience bullish growth, rising 45.50% this week after a slow period. This technical momentum can be attributed to the platform’s facilitation of nonfungible (NFT), which encouraged a partnership between Doja Cat, an American musician.