Tezos selected by leading digital asset bank for financial services products
- Arab Bank Switzerland launches institutional services for Tezos.
- Tezos () made the cut for its undeniably scalable blockchain.
- The proof-of-stake (PoS) consensus from Tezos also offers a sustainable alternative.
Arab Bank Switzerland is pleased to announce the launch of its institutional trading, staking and storage services for Tezos (XTZ). The native cryptocurrency of the Tezos blockchain was chosen for its innovative, on-chain-compliant digital financial products.
The bank believes Tezos is working to advance the future of all financial services products within its open source proof-of-stake (PoS) blockchain. On top of that, Tezos also brings impressive features like energy efficiency, strong security, and seamless upgrades.
Arab Bank Switzerland is a private bank known for offering custody and trading solutions for digital assets on an institutional level. In addition, it also offers bespoke services for financial companies, corporations and HNWI who want to work with digital assets.
Therefore, this introduction of trading, staking and custody services for Tezos strengthens the reputation of Arab Bank Switzerland in the sector of financial service providers for digital assets. In fact, this makes the brand a pioneer in the industry.
The managing director of Arab Bank Switzerland, Rani Jabban, says:
As a pioneer in the private banking industry, which started in 2019 with our Digital Assets Services, we will always strive to offer our customers first-class assets and financial services.
Jabban also highlights that digital assets are a cornerstone of the bank’s strategy. The bank’s mission is to combine innovative innovations with traditional tactics. Hence, Tezos’ staking capabilities, scalability and high quality governance align perfectly with their vision.
Arab Bank Switzerland has offered simple, secure and seamless experiences with digital assets since its approval by FINMA in 2019. Meanwhile, Tezos has grown rapidly since its launch in 2018. It now has over 3.2 million contract calls and has multiple projects on its blockchain.
These include McLaren Racing, Hic-Et-Nunc, Red Bull Racing Honda, Ubisoft, OneOf, Interpop and more. One of the main reasons for adopting this blockchain is the minimal number of interruptions during upgrades. It is therefore clear why the bank chose Tezos for its new services.
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