Avaloq has integrated its secure and scalable digital asset platform at one of Switzerland’s leading banks, Zürcher Kantonalbank (ZKB), in partnership with Fireblocks.
In a statement on 6 September, it said the bank’s new offering addresses growing market demand for trading and custody of digital assets. Avaloq deployed its digital asset platform for Zürcher Kantonalbank on the cloud and manages it in a software as a service (SaaS) model.
Avaloq provides a turnkey solution for financial institutions to integrate digital assets into their service offering. The Avaloq platform enables digital asset trading, settlement and custody, while ensuring that financial institutions can efficiently manage risk, optimize transaction costs and comply with regulations. The platform leverages the leading digital asset custody and infrastructure capabilities of Avaloq’s partner Fireblocks.
The platform’s seamless integration with core banking systems and digital channels provides a convenient experience for financial institutions and their clients to trade and efficiently manage both traditional and digital assets. In addition, thanks to Avaloq’s SaaS capabilities, Zürcher Kantonalbank can benefit from continuous innovation and short time to market for new services.
Avaloq’s digital asset platform is available to banks and wealth managers regardless of whether they run their core banking systems on-premises or in a SaaS model.
Michael Rausch, project lead digital assets at Zürcher Kantonalbank, said: “This innovative offering bridges the gap between decentralized and traditional finance, providing our clients with secure access to trading and custody of digital assets. We are looking forward to further collaboration in which we continue to rely on Avaloq’s proven integration and innovation capabilities.”
Georges Roten, managing director for Switzerland and Liechtenstein at Avaloq, said: “We are proud of this latest milestone in our partnership with Zürcher Kantonalbank. This achievement reflects the bank’s commitment to innovation and to offering comprehensive financial services for its clients.
"As the market environment and client expectations continue to evolve, it is vital that traditional financial institutions have the right strategy and technology in place to seamlessly integrate digital assets into their existing range of services. Together with our ecosystem of partners, we are dedicated to providing solutions for digital assets that enable firms to stay ahead of evolving market trends.”
