Luzerner Kantonalbank AG (LUKB) will become the first traditional bank in Switzerland to offer deposit and delivery services for Bitcoin and Ethereum starting October 1, 2024.

The bank aims to expand its cryptocurrency offerings, which currently include a crypto investment plan launched in June 2024. This plan allows investments in Chainlink and Polygon in addition to Bitcoin, Ethereum, and USD Coin.

LUKB customers will be able to transfer Bitcoin and Ethereum from external wallets to their securities custody accounts at the bank. The service will be introduced gradually and is meant to complement LUKB's existing cryptocurrency trading and custody services.

LUKB emphasizes the security of its cryptocurrency holdings and ensures that customers' assets are securely managed through an infrastructure certified under the ISAE 3000 standard by the International Federation of Accountants (IFAC).

The Cantonal Bank of Central Switzerland has previously been recognized as a pioneer in the crypto space.