Swiss Government-Owned Bank PostFinance Launches Crypto Services For Clients

PostFinance, a Swiss government-owned financial services firm, has partnered with digital asset bank Sygnum to launch crypto services for its customers. The move comes as a results of PostFinance analyzing its customers’ investment needs and discovering strong demand for digital investment services.

The company’s 2.5 million customers can now buy, sell and store cryptocurrencies such as Bitcoin and Ethereum, in addition to accessing a range of crypto services. PostFinance is one of Switzerland’s leading financial institution and largest retail banks.

Philipp Merkt, Chief Investment Officer of PostFinance, stated that digital assets have become an integral part of the financial world, and customers want access to this market at their trusted principal bank. PostFinance’s customers will also have access to the staking service, which locks up crypto assets for a set period to earn yields. Notable crypto assets such as Ethereum, Cardano, Internet Computer, and Tezos will be supported by the staking service.

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PostFinance will benefit from Sygnum’s B2B banking platform, which will allow it and other financial institutions to access the company’s several banking partners. The announcement highlights the importance of reputable and established partners in the financial industry, particularly in the digital asset space.

While some governments have pushed back against cryptocurrencies, the Swiss government seems to be bringing it closer to its citizens. The launch of crypto services by a government-owned bank demonstrates the increasing mainstream acceptance of digital assets in the financial world. This move also signals a shift towards more traditional financial institutions embracing cryptocurrencies, which is a significant development in the cryptocurrency ecosystem.

The partnership between PostFinance and Sygnum is an indication of the growing interest in digital assets by traditional financial institutions. The launch of crypto services by PostFinance will likely encourage other banks to consider offering similar services to their customers. As more institutions embrace cryptocurrencies, this could lead to increased adoption and usage of digital assets in the financial industry, ultimately benefitting the wider crypto ecosystem.

FAQS

What is PostFinance?

PostFinance is a financial services firm that is fully owned by the Swiss government. It is one of Switzerland’s leading financial institutions and largest r

What crypto services has PostFinance launched for its customers?

PostFinance has partnered with digital asset bank Sygnum to launch crypto services for its customers. Customers can now buy, sell and store cryptocurrencies such as Bitcoin and Ethereum, in addition to accessing a range of crypto services. The staking service, which locks up crypto assets for a set period to earn yields, is one of the “new revenue-generating services” PostFinance offers its customers in partnership with Sygnum.

How many customers does PostFinance have?

PostFinance has 2.5 million customers.

Why did PostFinance launch crypto services?

PostFinance analyzed its customers’ investment needs and discovered strong demand for digital investment services. Digital assets have become an integral part of the financial world, and customers want access to this market at their trusted principal bank.

What is Sygnum’s role in the partnership with PostFinance?

Sygnum is PostFinance’s partner in launching the crypto services for its customers. Sygnum’s B2B banking platform allows PostFinance and other financial institutions to have access to the company’s several banking partners.

What crypto assets will be supported by PostFinance’s staking service?

Notable crypto assets such as Ethereum, Cardano, Internet Computer, and Tezos will be supported by the staking service.

What does PostFinance’s partnership with Sygnum mean for the cryptocurrency ecosystem?

The partnership between PostFinance and Sygnum is an indication of the growing interest in digital assets by traditional financial institutions. As more institutions embrace cryptocurrencies, this could lead to increased adoption and usage of digital assets in the financial industry, ultimately benefiting the wider crypto ecosystem.