Luzerner Kantonalbank (LUKB), one of Switzerland's largest banks with an AA+ rating and CHF 60 billion balance sheet, was the first cantonal bank to establish its own FINMA-approved and ISAE 3000 and 3402 Type 2-certified custody solution. LUKB provides its Swiss-domiciled clients with secure, regulated, and 24/7 access to trading, custody, and transfers for a selection of key cryptocurrencies. As the first cantonal bank, LUKB has evolved its infrastructure to deliver real-time cryptocurrency data for banks at scale.
The Challenge: Real-Time Cryptocurrency Data for Banks
As LUKB expanded its digital asset services, a significant hurdle emerged: their existing infrastructure provided only delayed crypto market data. This created two critical problems.
- For risk management, their Order Management System (OMS) was unable to perform accurate pre-trade checks using real-time prices. This exposed both the bank and its clients to potential mispricing in volatile crypto markets, as it was impossible to validate prices from liquidity providers.
- For client experience and compliance, LUKB aimed to offer e-banking clients a modern, transparent view of their crypto holdings, including current prices and interactive charts. Delayed data simply did not meet these expectations and complicated efforts to ensure full regulatory compliance.
To deliver a secure and user-friendly crypto service, LUKB needed a reliable source for accurate, real-time cryptocurrency prices for both internal risk assessments and client-facing displays.
The Solution: CoinAPI's Real-Time & Historical Data Feeds
LUKB's search for a suitable data provider was simplified by their existing technology setup. Their OMS provider had already incorporated CoinAPI into its platform and recommended this solution. This existing connection offered LUKB a clear and efficient path forward, allowing them to use the established connection without additional integration costs or extensive development time. When the subsequent need for real-time data arose for their e-banking platform, CoinAPI was a natural choice. LUKB selected CoinAPI for its dependable performance and straightforward integration. Leveraging its OMS compatibility, CoinAPI’s crypto market data API enabled LUKB to:
- Stream real-time crypto prices using WebSocket for essential OMS pre-trade checks, ensuring instant validation of liquidity provider prices.
- Access comprehensive historical price data via REST API for e-banking charting and visualization, providing clients with valuable context.
- Leverage a developer-friendly, fully documented API architecture for quick and effective deployment, accelerating their time to market.
This strong combination of REST and WebSocket capabilities provided both real-time accuracy and long-term data continuity, core requirements for operating within a regulated banking environment.
Future-Ready Infrastructure, Bank-Grade Confidence
Building on CoinAPI's real-time and historical data feeds, LUKB significantly enhanced its digital asset services. These improvements offered customers a better experience with a modern platform to see live prices and charts, boosting their satisfaction and trust. Critically, LUKB could now instantly check trade prices, gaining an advantage and launching a crypto service that truly stands out among traditional banks, proving their leadership in finance.
Reflecting on their selection criteria and experience, Serge Kaulitz, Head DLT / Blockchain & Digital Assets, emphasized the importance of choosing the right crypto API:
"For us, selecting a Coin API is about reliability, transparency, and value. We look for broad currency coverage, consistent and verifiable pricing, and robust data access. Easy integration and responsive support are essential to build secure and scalable services."
With a strong, secure, user-friendly digital asset platform in place, LUKB is well-prepared to serve its clients in the growing crypto market. This integration provides the critical data foundation for LUKB's current services and future growth, demonstrating the essential role of reliable, real-time data for traditional financial institutions in the digital asset space.
About LUKB
Luzerner Kantonalbank (LUKB) is among the 10 largest banks in Switzerland, with an AA+ rating and a balance sheet of CHF 60 billion. As the first cantonal bank with its own FINMA-approved and certified custody solution, LUKB offers secure, regulated access to digital assets, connecting traditional banking with the digital asset world.
About CoinAPI
CoinAPI provides real-time and historical crypto market data from over 370 exchanges worldwide. Their products include a Market Data API, Exchange Rate API, Indexes APIs, bulk historical data via Flat Files, an Execution Management System (EMS) Trading API, and an Exchange Link service. With an emphasis on accuracy, reliability, and speed, CoinAPI helps businesses like LUKB build informed strategies and develop effective trading and analytics tools.
