PostFinance, a Swiss government-owned retail bank, is preparing to offer clients services for trading and storing cryptocurrencies.
PostFinance has partnered with Sygnum, a regional cryptocurrency bank, to provide its clients with regulated digital asset banking services. The move is in response to the high demand for digital investing services among PostFinance’s clients.
The partnership, effective from April 5, 2023, will see PostFinance utilize Sygnum’s B2B banking platform to integrate this new solution into its current infrastructure, enabling PostFinance clients to purchase, store, and trade popular cryptocurrencies such as Bitcoin and Ether.
Sygnum’s institutional business-to-business offering grants banks access to regulated and legal digital products, supporting multiple cryptocurrencies, and has over 15 partner banks. The B2B network offers revenue-generating activities such as staking, making it an all-encompassing solution for banks seeking to rapidly and effectively expand their regulated digital asset services.
Sygnum is one of the few banks worldwide that can provide a secure bridge between traditional finance and digital assets, as it is a fully regulated digital asset specialist with a banking license from Switzerland.
PostFinance’s Chief Investment Officer Philipp Merkt expressed confidence in the partnership, stating:
“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. A reputable and established partner like Sygnum Bank with an excellent service offering is more important than ever.”
Sygnum Bank’s Chief B2B Officer, Fritz Jost, also stated in the announcement that the firm’s all-encompassing B2B banking platform provides more than fifteen partner institutions with the necessary resources to rapidly and effectively expand their regulated digital asset services.
Jost expressed his pleasure in giving PostFinance access to the tools required to deliver institutional-grade digital asset services to their customers.
Jost reiterated Sygnum Bank’s commitment to promoting continued development and advancement within the sector, as well as among the clients of their partner institutions.
Swiss Post, the national postal service of Switzerland, founded PostFinance in 1906 to provide financial services. The publicly traded corporation has gained recognition for its pro-cryptocurrency stance, and in 2021, introduced digital collectibles linked to actual stamps on its cryptocurrency custody platform.
PostFinance’s announcement follows Swiss Post’s statement about the release of Crypto Stamp 3.0, which will feature both physical and non-fungible token variations incorporating artificial intelligence technology. Swiss Post intends to launch the new Crypto Stamp on May 2, 2023.
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