Arab Bank Switzerland will enable its institutional clients to store, stake, and trade XTZ – cryptocurrency of the blockchain project Tezos.
Arab Bank is a Switzerland-based organization that is committed to maintain the highest standards of excellence. Indeed, the excellency has been based on sustainable growth and development. On Tuesday the bank announced that it will enable its institutional clients to store, stake, and trade XTZ – cryptocurrency of the blockchain project Tezos. Following the update, the bank also highlighted that it has integrated the Tezos blockchain to facilitate such cryptocurrency services. Moreover, Arab Bank also underscored that all the services will be provided onto XTZ, the native cryptocurrency of the Tezos network.
Arab Bank Switzerland’s Managing Director, Rani Jabban, said: “As a pioneer in the private banking industry, having started our digital assets services in 2019, we will always endeavor to offer best of class assets and financial services to our clients. Digital Assets are a cornerstone of our strategy, requiring strong agility while complying with the highest security standards. Our mission is to bridge tradition and cutting-edge innovation. Tezos, with its scalability, high-quality governance, and staking possibilities, fits perfectly within our vision.”
XTZ token has very low gas fees, support for NFTs, smart contracts, decentralized exchanges, and cross-chain functionality. Project attracted more than 3.2 million contract calls in August. It makes it one of the fastest-growing blockchains. Tezos blockchain competes with Ethereum, Cardano, Stellar, and others that support smart contracts. Finally and most importantly, unlike most others blockchains, it is designed to implement upgrades without any hard forks!
