Arab Bank Switzerland selects Tezos as partner for digital financial products

Arab Bank Switzerland announced they have chosen Tezos (XTZ/USD) to cooperate on compliant, innovative on-chain digital financial products, Invezz learned from a press release. The bank has introduced top-grade storage, trading, and staking services for Tezos’ native token.

As a seamlessly upgradable, security focused, and energy efficient ecosystem running on an open source Proof of Stake blockchain, Tezos is uniquely positioned to power the future of financial services products.

Arab Bank Switzerland offers institutional-grade digital assets custody and trading solutions

A privately owned bank with more than five decades of history, Arab Bank Switzerland offers top-tier digital assets custody and trading solutions. It provides customized services to HNWI, financial institutions, and corporate clients seeking exposure to digital assets. Their launch of Tezos custody, staking, and trading services further plants them as one of Switzerland’s pioneers in digital asset financial services.

Arab Bank Switzerland has been offering secure and easy digital asset solutions since 2019, when it received permission from FINMA to provide digital asset services.

Rani Jabban, Managing Director of Arab Bank Switzerland, said:

Built on low gas fees, efficient DEXs, and cross-chain utility

Tezos is built on low gas fees, efficient centralized exchanges, cross-chain utility, dynamic NFT platforms, yield farming protocols, and more. It’s among the most rapidly growing ecosystems with over 3.2 million contract calls in August alone. It’s possible to make upgrades on Tezos based on proposals by participants on the network. They vote, approve, and deploy these without hard forks.

Network upgrades have improved token standards and increased transaction speed

The unique upgrade mechanism ensures improved functionality over time while minimizing disruptions. Tezos has undergone seven network upgrades, which have increased the speed of transactions on the blockchain, improved standards, and reduced gas fees by as much as 70%.