Friday, June 9, 2023

Postfinance, which is one of the biggest banks in Switzerland, will give people access to popular cryptocurrencies and tools related to them. This bank has partnered with a Swiss-licensed digital asset bank called Sygnum so that they can offer these services using their banking platform.

Postfinance Joins Forces with Sygnum to Bring Digital Banking Services to Customers!

The Swiss post office, Postfinance, and the crypto bank Sygnum are joining forces to offer a range of digital banking services. To accomplish this, they will rely on Sygnum’s platform that helps with business-to-business operations. This partnership assists in launching and growing regulated products and services related to digital assets.

Postfinance customers can buy, save and sell popular cryptocurrencies like Bitcoin and Ethereum. Postfinance looked into what their customers want when it comes to investing, and people seem to be very interested in these digital investments. A B2B banking platform will help them connect the new services with their existing system.

Postfinance’s Chief Investment Officer Philipp Merkt said that digital assets are now super important in the financial world and customers wants access to it. To help those customers, Sygnum holds special licenses from both Switzerland and Singapore that let it connect traditional finance with digital assets, making it one of the few banks able to do so.

Sygnum Bank explained that they offer a service to banks that helps them jump into the cryptocurrency market. This makes it cost-effective and there are rules that must be followed when using it. Postfinance will be able to use this service too, allowing them to introduce new things like staking. They’re already working with over 15 partner banks and Fritz Jost, Sygnum’s Chief B2B Officer said so.

Postfinance, a financial arm of Swiss Post, is moving towards crypto services. This was announced in July 2022. In the year before that, there was an app launched giving customers access to more than 12 kinds of digital assets.

Do you think other Swiss banks will offer products and services related to cryptocurrencies? Let us know what you think about this topic in the comments below.

Photos used in this passage have been taken from Shutterstock, Pixabay, Wiki Commons, and Judith Linine /


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