Swiss Arab Bank announced Tuesday that it will integrate staking, trading and custody services into its native Tezos blockchain (XTZ) tokens to provide a digital asset environment for organizations, businesses and high net worth individuals.
The 50-year-old facility is partnering with Tezos in the hope of capitalizing on ecosystems that focus on energy savings, low gas charges and quick upgrades.
Rani Jabban, CEO of Swiss Arab Bank, commented on the institute’s ambitions following the announcement:
“Digital assets are of fundamental importance to our strategy and require a high level of agility while at the same time adhering to the highest security standards. Our mission is to close the gap between tradition and innovative innovation. With its scalability, high quality governance and staking capabilities, Tezos fits our vision perfectly. “
Related: Tezos threatens to correct below record high, with XTZ up 250% since July
In recent years, Swiss banking institutions have become a leading spearhead in the introduction of digital assets by the global crypto community and have benefited from their regulatory tolerance policy.
Just last week, the Swiss banking institute SEBA Bank AG was one of the first digital asset banks in the world to be approved by FINMA with a KAG license in order to facilitate the service as a senior supervisor for Swiss collective investment schemes.
Analytical data from Cointelegraph Markets shows the Tezos (XTZ) token continued to grow this week, up 45.50% for the asset after a few parabolic months. Much of this tech boost can be traced back to the platform’s NFT backing last month, a move that soon spurred a partnership with US musician Doja Cat.