Zürcher Kantonalbank (ZKB), one of Switzerland’s leading banks, has deployed a scalable digital asset platform provided by Avaloq, in partnership with Fireblocks.
Avaloq provides a turnkey solution for financial institutions to integrate digital assets into their service offering. While Avaloq supplies digital asset trading and settlement capabilities for financial institutions to efficiently manage risk, optimize transaction costs, and comply with regulations, Fireblocks provides the digital asset custody and infrastructure capabilities .
ZKB will now leverage Avaloq and Fireblocks to address growing market demand for trading and custody of digital assets. The Swiss bank has deployed the digital asset platform on the cloud in a software-as-a-service (SaaS) model.
Bridging the gap between decentralized and traditional finance
Michael Rausch, Project Lead Digital Assets at Zürcher Kantonalbank, said: “This innovative offering bridges the gap between decentralized and traditional finance, providing our clients with secure access to trading and custody of digital assets. We are looking forward to further collaboration in which we continue to rely on Avaloq’s proven integration and innovation capabilities.”
Georges Roten, Managing Director for Switzerland and Liechtenstein at Avaloq, commented: “We are proud of this latest milestone in our partnership with Zürcher Kantonalbank. This achievement reflects the bank’s commitment to innovation and to offering comprehensive financial services for its clients. As the market environment and client expectations continue to evolve, it is vital that traditional financial institutions have the right strategy and technology in place to seamlessly integrate digital assets into their existing range of services. Together with our ecosystem of partners, we are dedicated to providing solutions for digital assets that enable firms to stay ahead of evolving market trends.”
Avaloq and SIX co-created Independent Valuation Service
SIX recently launched the Independent Valuation Service, co-created with Avaloq, to address international financial markets’ need for end-of-day product valuations from an independent source. Product valuations are pivotal for asset and risk managers, custodians as well as other financial institutions, guiding investment decisions, risk management, compliance, and reporting procedures. Independent Valuation Service facilitates client reporting, risk management, and continuous benchmarking.
Available through the established CONNEXOR API, the Independent Valuation Service for Structured Products offers an easily accessible and customizable solution. Users can subscribe or unsubscribe flexibly to instruments via ISIN requests, based on their needs in order to obtain end-of-day valuations for non-listed structured products to trigger required downstream processes.
The API of the Independent Valuation Service integrates valuations and risk figures for structured products across financial markets, leveraging different pricing engines and real-time data analysis. Automated coverage checks ensure comprehensive data availability and cost transparency for each product available globally.
