Swiss Bank PostFinance Set to Debut Crypto Services

It was announced on April 5 that PostFinance has teamed up with the regional cryptocurrency bank Sygnum in an effort to provide its clients with a variety of authorized digital asset internet banking. 

In particular, the collaboration will make it possible for PostFinance users to purchase, store, and trade popular cryptocurrencies like Bitcoin and Ether. The crypto services have been rendered via Sygnum’s institutional business-to-business service, which gives banks access to the market to certified digital products. 

The business-to-business network provides a “range of cryptocurrencies,” including revenue-generating services like staking, and has more than 15 partner institutions.

PostFinance to Capitalize on Crypto

According to Philipp Merkt, chief investment officer of PostFinance, the bank entered the cryptocurrency market due to a rising consumer demand. He said that “a reputable and established partner like Sygnum Bank with an excellent service offering is more important than ever,” while adding: 

“Digital assets have become an integral part of the financial world, and our customers want access to this market at PostFinance, their trusted principal bank.”

Customers may now invest in digital assets and benefit from financial services connected to cryptocurrencies because of a variety of cooperative partnerships between banks and crypto businesses operating in Switzerland. 

Recently, a Swiss Post announced the release of Crypto Stamp 3.0, a new crypto stamp version that includes physical and nonfungible token versions coupled with artificial intelligence technology. The new cryptocurrency stamp from Swiss Post is slated to be on sale on May 2, 2023.

Meanwhile, SEBA, a Swiss-based digital asset bank, has introduced an Ethereum (ETH) staking service for institutional clients. This was accomplished even before the Merge, a conversion from a Proof-of-work consensus process to a proof-of-stake consensus mechanism.

Moreover, SEBA launched regulated custody for high-profile Non-fungible tokens in October of last year (NFTs). This allowed its users to keep ETH-based NFTs—basically, NFT collections like Bored Apes and CryptoPunks—in their accounts.