- Arab Bank Switzerland to add Ripple next month
- The bank already offers digital asset services for Bitcoin and Ethereum
Arab Bank is one of the largest financial institutions in the Middle East. The Switzerland branch, Arab Bank Switzerland has partnered with Taurus as a lead investor. The middle-eastern bank currently offers customers custody and brokerage services for Bitcoin and Ethereum as of late last year.
It launched a full suite of digital asset services, providing advisory, custody and brokerage services for Bitcoin and Ethereum last September, and plans to add Ripple to its offering next monthArab Bank Switzerland
The bank will begin to expand these services to Ripple beginning May. With the partnership with Taurus Group, Arab Bank Switzerland aims to become one of the leaders in the rapidly evolving blockchain and digital asset technology.
Ripple in Banking
In addition to Arab Bank Switzerland, many financial institutions have begun to consider blockchain technology solutions. RippleNet offers a viable solution to current banks. With RippleNet banks have access to cost-effective on-demand-liquidity and quick, reliable international transfers. This allows banks to drastically reduce costs while making large overseas transfers on a highly scalable platform.
Furthermore, financial leaders see the potential of blockchain as a whole, both in the form of investable assets and technology applications.
The financial industry of tomorrow will leverage the blockchain technology both via traditional asset tokenization and digital assets. We are excited to invest in the leading Swiss fintech offering an outstanding digital asset infrastructure, thus contributing to a much needed evolution of our industry.Serge Robin, CEO of Arab Bank (Switzerland)
With Arab Bank Switzerland to add Ripple next month, Ripple adoption will only grow. Many institutional investors prefer to invest via a safe, regulated platform like an accredited bank. Ripple’s addition will further individual investments functioning as a boon for global Ripple adoption.
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