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- Arab Bank of Switzerland has integrated the Tezos blockchain solution
- The bank is seeking to offer crypto-related services like trading, staking, and custodial services
- Arab Bank is trying to the bridge the traditional and cutting edge innovations
Arab Bank is a Switzerland-based organization that is committed to maintain the highest standards of excellence. Indeed, the excellency has been based on sustainable growth and development. On Tuesday the bank announced that it is about to offer crypto-related services like trading, staking and custody. Following the update, the bank also highlighted that it has integrated the Tezos blockchain to facilitate such cryptocurrency services. Moreover, Arab Bank also underscored that all the services will be provided onto XTZ, the native cryptocurrency of the Tezos network.
Why did Arab Bank choose Tezos blockchain solution?
According to the announcement, it is observed that Arab Bank is willing to provide a virtual currency environment for institutions, corporations, and high net-worth individuals. The bank was established about 50 years ago, and has currently partnered with the Tezos blockchain. Notably, the major bank hopes that the blockchain will benefit from its ecosystem’s inherently focused on energy conservation, low gas fees, and faster upgrades.
According to Rani Jabban, the Managing Director of the Switzerland-based bank, cryptocurrencies are a cornerstone of their strategy, requiring strong agility, while complying with the highest security standards. Indeed, the bank ambitions to bridge the traditional and cutting-edge innovation. Ultimately, Tezos with its high scalable platform, and high quality governance and staking possibilities, fits perfectly within their visions.
Swiss banks are getting prominent spread heads
Following the latest integration of Tezos, by Arab Bank, experts in the cryptosphere noted that institutions from the region have become prominent spearheads for the adoption of global digital assets industry over the recent years. Indeed, the scenario is benefitting from Switzerland’s lenient policies on regulation.
We have noted that just last week, Swiss banking institution, SEBA Bank AG, one of the world’s first crypto banks, was granted the approval with a CISA license from FINMA to facilitate premium-grade custodial services for Swiss collective investment schemes.
Adoptions boost Tezos’s XTZ tokens price
XTZ token has been facing a continuation of bullish growth since the beginning of this week. Rising from more than 45%, the crypto token has experienced a parabolic couple of months for the asset. Much of this technical momentum is due to the platform’s Non-Fungible Token related services. And the latest integration by Arab Bank has also helped the tokens skyrocket in the market.
