Avaloq Launches Digital Asset Platform at Zürcher Kantonalbank

Avaloq has successfully integrated its secure and scalable digital asset platform into one of Switzerland’s leading banks, Zürcher Kantonalbank (ZKB), in partnership with Fireblocks. The bank’s new offering addresses the growing market demand for trading and storing digital assets. Avaloq has deployed its digital asset platform for Zürcher Kantonalbank in the cloud and is managing it in a software as a service (SaaS) model.

Avaloq offers a turnkey solution for financial institutions to integrate digital assets into their service offerings. The Avaloq platform enables digital asset trading, exchange, and custody, while enabling financial institutions to 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 financial institutions and their customers with a convenient experience in trading and efficiently managing both traditional and digital assets. Additionally, thanks to Avaloq’s SaaS capabilities, Zürcher Kantonalbank can benefit from continuous innovation and a short time to market for new services.

Avaloq’s digital asset platform is available to banks and asset managers regardless of whether they run their core banking systems on-premises or in a SaaS model.

Michael Rausch, Project Leader for Digital Assets at Zürcher Kantonalbank, said: “This innovative offering bridges the gap between decentralized and traditional finance, providing our customers with secure access to trade and hold digital assets. We look forward to further collaborations as we continue to rely on Avaloq’s proven integration and innovation capabilities.”

“We are proud of this latest milestone in our partnership with Zürcher Kantonalbank,” said Georges Roten, Managing Director Switzerland and Liechtenstein at Avaloq. “This achievement reflects the bank’s commitment to innovation and providing comprehensive financial services to its customers. As the market environment and customer 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 partner ecosystem, we are dedicated to providing solutions for digital assets that enable firms to stay ahead of evolving market trends.”