Swiss State-Owned Banking Giant Postfinance to Offer Crypto Services

Postfinance, 1 of Switzerland’s largest retail banks, volition connection customers entree to large cryptocurrencies and related services. The state-owned fiscal instauration volition beryllium utilizing the banking level developed by the Swiss-licensed integer plus slope Sygnum.

Postfinance Partners With Sygnum to Provide Digital Asset Products and Services

The fiscal services portion of the nationalist postal work of Switzerland, Postfinance, has joined forces with crypto slope Sygnum to connection a scope of integer plus banking services. To execute that, the slope volition employment Sygnum’s B2B (business-to-business) banking platform.

The concern enables the motorboat and enlargement of regulated bank-grade products and services for integer assets, Sygnum said successful an announcement published Wednesday. The Switzerland-based fintech institution further elaborated:

Postfinance’s customers volition beryllium capable to buy, store and merchantability starring cryptocurrencies specified arsenic bitcoin and ethereum.

Postfinance has analyzed the concern needs of its customers and detected beardown request for integer concern services, Sygnum besides explained. Its B2B banking level volition let the Swiss state-owned slope to integrate the caller offering into its existing infrastructure.

“Digital assets person go an integral portion of the fiscal world, and our customers privation entree to this marketplace astatine Postfinance, their trusted main bank,” commented the bank’s Chief Investment Officer Philipp Merkt.

Sygnum holds some a Swiss banking licence and a Singapore plus absorption license. Being afloat regulated, makes it 1 of the fewer banks globally that are capable to supply a span betwixt accepted concern and integer assets.

Sygnum Bank besides highlighted that the B2B offering allows its spouse banks to rapidly participate the crypto marketplace successful a cost-efficient mode and with regulation-compliant products. Using it, Postfinance volition besides beryllium capable to proceed to present caller services specified arsenic staking. Fritz Jost, Signum’s main B2B officer, noted that the institution is already moving with implicit 15 spouse banks.

Postfinance’s involvement successful the integer plus abstraction is not new. Swiss Post’s fiscal limb announced its intentions to participate the crypto services marketplace successful July, 2022. In May, the erstwhile year, the slope had already launched a mobile app providing clients with entree to implicit a twelve cryptocurrencies.

Do you expect much Swiss banks to besides question B2B solutions allowing them to connection crypto-related products and services to their customers? Tell america successful the comments conception below.