PostFinance and Sygnum, a local cryptocurrency bank, announced their partnership.
Retails Banks users will be able to purchase, store, and trade popular cryptocurrencies.
The Swiss government-owned retail bank PostFinance is gearing up to provide cryptocurrency trading and storage services to its clients. On April 5, PostFinance and Sygnum, a local cryptocurrency bank, announced their partnership to provide consumers with a full suite of regulated digital asset banking services.
Under this collaboration, PostFinance users will be able to purchase, store, and trade popular cryptocurrencies like Bitcoin and Ether. Sygnum’s institutional B2B solution enables the crypto services by giving banks access to digital assets that are both regulated and compliant.
Integral Part of Financial World
Supporting a variety of cryptocurrencies with revenue-generating services like staking, the B2B network has over 15 partner banks. PostFinance’s entry into the cryptocurrency market is a direct result of client demand. Philipp Merkt, the bank’s chief investment officer, made a similar observation regarding cryptocurrency demand.
Merkt stated:
“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.”
PostFinance, a subsidiary of Swiss Post, the country’s primary postal service, was established in 1906. In 2021, the public corporation issued digital artifacts tied to actual stamps, cementing its reputation as a crypto advocate.
Swiss Post has announced the release of Crypto Stamp 3.0, a new crypto stamp iteration that integrates AI technology into both the physical and non-fungible token forms of the stamp. The new crypto stamp from Swiss Post will be released on May 2, 2023. This development comes amid a global crypto crackdown, especially by U.S. authorities against crypto exchanges and banks.