Arab Bank Switzerland enables Tezos staking, trading and storage as XTZ Charted New ATH

Arab Bank Switzerland enables Tezos staking, trading and storage as XTZ Charted New ATH

Arab Bank Switzerland will enable its institutional clients to store, invest and trade XTZ – the native cryptocurrency of the popular blockchain project Tezos. This announcement comes amid the token's recent price surge that took it to a new all-time high.

The press release seen byCryptoPotatoreads that the banking organization, founded in 1962, has selected Tezos to develop a new range of “innovative and compliant” on-chain digital financial products. The private bank will also allow its customers to stake, store and trade the XTZ token on its institutional platforms.

"Digital assets are a cornerstone of our strategy and require high agility while maintaining the highest security standards. Our mission is to combine tradition and innovative innovation. Tezos fits perfectly into our vision with its scalability, high-quality governance and staking capabilities." – commented Rani Jabban – Managing Director of the bank.

Tezos already has experience working with major banks. The protocol was already in April of this year in partnership with Societe Generale as a French institution wanted to use the Tezos blockchain to issue its own security token. Additionally, Tezos has collaborated with several Swiss-based organizations. The trio of Crypto Finance Group, InCore Bank and Inacta recently selected it to enable tokenization of assets. The price of the native token has also been trending recently. It had fallen below $4.5 on September 22, but has more than doubled in value and hit a new all-time high above $9 yesterday. It is currently trading north of $8 and has entered the top 30 largest cryptocurrencies by market cap.

XTZUSD. TradingView.