As an XTZ Charted New ATH, Arab Bank Switzerland now allows Tezos staking, trading, and storage.

Arab Bank Switzerland's institutional clients will be able to store, trade, and stake Tezos (XTZ).

The institutional customers of Arab Bank Switzerland will be able to store, stake, and trade XTZ, the native cryptocurrency of the prominent blockchain project Tezos. This news comes on the heels of the token's recent price rise, which has seen it reach a new all-time high.

According to a press statement obtained by CryptoPotato, the 1962-founded banking institution has chosen Tezos to create a new set of “innovative and compliant” on-chain digital financial products.

Customers will be able to stake, store, and trade the XTZ token on the private bank's institutional-grade platforms.

“Digital assets are a key component of our strategy, necessitating a high level of agility while adhering to the strictest security requirements. Our goal is to create a link between history and cutting-edge innovation. Tezos fits well with our goal, thanks to its scalability, high-quality governance, and staking capabilities.” - said the bank's Managing Director, Rani Jabban.

Tezos has already worked with major financial institutions. The protocol collaborated with Societe Generale in April of this year because the French bank wanted to use the Tezos blockchain to create its own security token.

Tezos has also partnered with a number of Swiss-based organizations. It was recently chosen by the Crypto Finance Group, InCore Bank, and Inacta to allow asset tokenization.

The native token's price has also been rising recently. It had fallen below $4.5 on September 22nd, but has since more than quadrupled in value and surpassed $9 as a new all-time high.

It currently trades for more over $8 and is among the top 30 most valuable cryptocurrencies by market capitalization.


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