Arab Bank Switzerland has announced the launch of XTZ trading, storage and staking services for institutional clients on the Tezos blockchain.
According to Invezz, the bank chose the Tezos native token XTZ for its innovative and on-chain digital financial products. In addition, Tezos includes features such as energy efficiency, strong security and hassle-free upgrades.
Arab Bank, a private bank with a long history of more than 50 years, will enable its customers to stake, store and trade XTZ token at the institutional level.
Rani Jabban, Managing Director of Arab Bank Switzerland, continued by stating that as the private banking sector, they always try to offer best-in-class assets and services to our clients:
Digital assets are the cornerstone of our strategy. It requires strong agility while adhering to the highest safety standards. Our mission is to bridge the gap between tradition and the latest innovations. With its scalability, high-quality management and staking possibilities, Tezos fits our vision perfectly.
Tezos is preferred by big banks due to its strong security and energy efficiency.
Tezos has partnered with French bank Societe Generale earlier this year and more recently with Swiss crypto-focused banks.