Swiss Bank PostFinance to Roll Out Bitcoin, Ethereum Services for Clients
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Loading... - Willow Morrison
- 03 May 2023
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PostFinance is rolling out a range of crypto services through a new partnership with digital assets bank Sygnum.
PostFinance, the financial services firm fully owned by the Swiss government, will offer its customers a range of regulated crypto services delivered through Sygnum's B2B banking platform.
Thanks to the partnership with digital assets bank Sygnum, its customers will now be able to buy, store, and sell cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), according to an announcement. PostFinance is Switzerland’s fifth-largest financial services firm boasting more than 2.5 million customers.
"This partnership illustrates how digital assets are now an integral part of the financial landscape in Switzerland. In this sense, the PostFinance and Sygnum partnership represents an important, and fully regulated step, towards increased asset class adoption," Sygnum's chief B2B officer Fritz Jost told Decrypt. "Switzerland as an investment ecosystem offers a number of strategic advantages, including regulatory clarity for cryptocurrencies and off-balance sheet segregation of crypto assets which eliminates credit risks."
A PostFinance spokesperson told Decrypt that its "analyses show that our customers want access to the crypto market. The past few months have shown that customers want more security, regulation, and trust. We can offer this. Our top priority is to offer trading and safekeeping within a secure framework for our customers and to ensure the highest level of regulatory compliance."
Sygnum's B2B banking solution lets existing financial institutions crypto products and services, with PostFinance joining more than a dozen of the platform’s other banking partners. Read More…
