Avaloq has introduced its cutting-edge digital asset platform at Zürcher Kantonalbank (ZKB), one of Switzerland’s premier banking institutions, in collaboration with Fireblocks.
This strategic move caters to the burgeoning demand in the market for trading and securing digital assets. Avaloq’s deployment of the digital asset platform on the cloud is managed under a software as a service (SaaS) model.
This digital asset platform provides a comprehensive turnkey solution enabling financial institutions to seamlessly incorporate digital assets into their service portfolio.
It supports functionalities like digital asset trading, settlement, and custody, while also ensuring that institutions can manage risks effectively, reduce transaction costs, and adhere to stringent regulations.
The integration of the platform with core banking systems and digital channels offers a seamless and efficient experience for financial institutions and their clients, facilitating the trading and management of both traditional and digital assets.
Furthermore, the SaaS capabilities of Avaloq allow Zürcher Kantonalbank to continuously innovate and rapidly introduce new services to the market.
Michael Rausch, Project Lead Digital Assets at Zürcher Kantonalbank, expressed enthusiasm about the new offering, stating, “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, commented on the milestone, “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.”
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