CryptoCoin.News has confirmed that the Switzerland-based charter of Arab Bank will offer institutional custody, staking, and trading for Tezos (XTZ).
Press release…which press release?
The news about Arab Bank Switzerland’s new XTZ services circled mainly on smaller cryptocurrency and traditional investment news outlets, but Cointelegraph was among the sites who republished the headline as well. What is troubling is that most outlets, including Cointelegraph, claim to have gotten the lead from a press release, but none actually specified which press release they have gotten the headline from.
For example, this article from CryptoPotato states:
The press release seen by CryptoPotato reads that the banking organization, founded in 1962, has selected Tezos to develop a new set of “innovative and compliant” on-chain digital financial products.
If the author who wrote the article has actually seen the press release, it should not be too much to ask to provide a link to the release.
Fake news (or not) – no confirmation from Tezos yet
What further cements the suspicion is that Tezos has not made any attempts to announce the collaboration on their Twitter channel at the time of writing. The channel has been inactive though lately, only posting one Tweet in the last four days.
On the official website of Arab Bank Switzerland, there was also no confirmation for the headline. The bank did announce offering financial services for Bitcoin and Ethereum in 2019, but Tezos was not mentioned.
Ultimately, CryptoCoin.News was able to locate what was likely the source of the press release. It was originally published on XTZ.News, a Tezos-focused news platform. The press release was also shared on Arab Bank Switzerland’s LinkedIn profile. We therefore deem the news confirmed.
Update: Tezos has also confirmed the news via Twitter before this article was published.
