PostFinance Launches XRP, ADA, SOL, AVAX & DOT Trading
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Loading... - Gregor Berger
- 03 Jul 2024
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PostFinance, a Swiss government-owned bank, has expanded its cryptocurrency offerings, now including Ripple (XRP), Solana (SOL), Avalanche (AVAX), Cardano (ADA), and Polkadot (DOT) trading services. This move is part of PostFinance’s ongoing strategy to integrate digital assets into its services.
In April 2023, PostFinance partnered with Sygnum Bank to provide regulated crypto services. This collaboration allows PostFinance customers to buy, store, and sell cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) using Sygnum’s B2B banking platform. Fritz Jost, Sygnum’s chief B2B officer, emphasized that this partnership represents a significant step towards broader adoption of digital assets in Switzerland.
Recently, PostFinance announced the launch of XRP, AVAX, ADA, SOL, and DOT trading on its platform, along with custody services for these cryptocurrencies. The announcement stated, “We now also offer the Avalanche, Cardano, Polkadot, Ripple and Solana #cryptocurrencies for trading and custody.”
The addition of these cryptocurrencies aligns with the growing interest and development in these blockchain platforms. Analytics firm Santiment noted that Cardano, Solana, and Polkadot have shown strong development activity, often surpassing Ethereum in GitHub submission rates, highlighting their ongoing innovation and robust developer communities.
Charles Hoskinson, founder of Cardano, acknowledged PostFinance’s early support for Ethereum and affirmed his longstanding positive relationship with the bank. In a post on X, he wrote, “Fun Fact: when I was at Ethereum, PostFinance was actually one of our first banking partners. They were always nice and easy to work with.” PostFinance responded warmly, stating, “Hey there, it’s always nice to see old friends! We are pleased that Cardano now forms part of our crypto offering.”
Switzerland has been at the forefront of crypto adoption, with its “Crypto Valley” in Zug becoming a hub for blockchain innovation. The Swiss government and financial institutions have embraced digital assets, further solidifying the country's position as a leader in the crypto space.
