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State-Run Bank in Switzerland to Launch Crypto Services

imageCryptocurrency13 hours ago (Aug 03, 2020 04:20PM ET)

State-Run Bank in Switzerland to Launch Crypto Services

Basler Kantonalbank, or BKB, a government-owned commercial bank in Switzerland, is planning to launch cryptocurrency services through its banking subsidiary.

According to an Aug. 3 report by local news agency Finews, BKB’s subsidiary and a national banking group, Bank Cler, are working on services that will allow customers to trade and store cryptocurrencies. BKB holds a majority stake in Cler, though the subsidiary possesses its own banking license separate from BKB.

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State-Run Bank in Switzerland to Launch Crypto Services

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