Avaloq rolls out digital asset platform at Zürcher Kantonalbank

By Gloria Methri

Avaloq has integrated its digital asset platform at one of Switzerland’s leading banks, Zürcher Kantonalbank (ZKB), in partnership with Fireblocks. 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 managed it in a software as a service (SaaS) model.

Avaloq provides a turnkey solution for financial institutions to integrate digital assets into their service offerings. The Avaloq platform enables digital asset trading, settlement and custody while ensuring that banks can efficiently manage risk, optimize transaction costs and comply with regulations. The platform leverages the 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 banks 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 a short time to market for new services.

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. As the market environment and client expectations continue to evolve, traditional financial institutions must have the right strategy and technology in place to integrate digital assets seamlessly 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.”