PostFinance partners with Sygnum Bank to provide customers with access to cryptocurrencies

Thanks to its partnership with Sygnum Bank, PostFinance will offer its first cryptocurrency management services. It will offer its customers the ability to buy, sell, and store Bitcoin and Ethereum.

PostFinance et Sygnum Bank : un partenariat crypto-friendly

PostFinance, the fifth financial company in Switzerland, will allow its users to have access to the cryptocurrency market. Through its collaboration with Sygnum Bank, already a provider of regulated digital asset services, PostFinance will make it easy to buy crypto-assets. In 2021, the bank had launched a stablecoin backed by the Swiss franc, the DCHF.

PostFinance is a company wholly owned by the Swiss government. It will start by providing its millions of customers with access to buy, store and sell digital assets like Bitcoin (BTC) and Ethereum (ETH). Other top 100 cryptocurrencies are expected to be added to the list offered by the bank very soon.

BREAKING🇨🇭 Switzerland’s 5th-largest bank PostFinance launches #Bitcoin trading and custody services to 2.5 MILLION customers – Coindesk pic.twitter.com/pM5WO1MNgy

— Bitcoin Archive (@BTC_Archive) April 5, 2023

Switzerland is advancing very rapidly in the sector and is increasingly in contrast to the United States and the European Union. In these regions, the final objective seems to have been concerted on regulation and limitation of the market for cryptocurrencies.

Sygnum Bank obtained its crypto banking license Swiss regulators about four years ago. Today, it offers its services to a whole series of institutions, including cantonal banks and private banks. In a statement, Philipp Merkt, Chief Investment Officer at PostFinance said:

Cryptos have become an integral part of the financial world and our customers want access to this market through PostFinance, their trusted primary bank. It is more important than ever to be able to count on a reputable and established partner like Sygnum bank, which offers excellent services.

Customers are increasingly turning to cryptocurrencies

According to Fritz Jost, Chief B2B Officer at Sygnum Bank, PostFinance’s decision makes sense. It was largely driven by outflows from Swiss commercial banks (retail bank) to the digital asset class. In an interview, Fritz Jost said:

PostFinance has become aware that every year hundreds of millions of funds go to crypto exchanges or other platforms. They understood that it was an opportunity to add a new type of income. They also realized that these services would further promote customer retention.

Fritz Jost said that the current range of offered cryptos will certainly be expanded, but has not yet been chosen by PostFinance.

📰📣 NEWS: @PostFinance partners with Sygnum, the world’s first digital asset bank, to offer its customers regulated digital asset banking services via Sygnum’s B2B banking platform. Read the announcement here 👇 https://t.co/zuWRP3lXIS

— Sygnum Bank (@sygnumofficial) April 5, 2023

Source : Twitter Bitcoin Archive, Twitter Sygnum Bank, Sygnum Bank, PostFinance

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