Swiss government-owned bank PostFinance has recently collaborated with digital asset services provider Sygnum Bank to start offering cryptocurrency trading and storage services — joining the other 15+ partner banks that are also part of the business-to-business (B2B) network.
With the partnership, the Swiss bank’s 2.5 million customers will be able to buy, sell, and store Bitcoin and Ether — as well as other tokens that will be added in the future. By harnessing the power of Sygnum’s institutional B2B banking platform, PostFinance is able to offer crypto services while also ensuring that it is done in a regulated and compliant way.
“Digital assets have become an integral part of the financial world, and our customers want access to this market at PostFinance.”
Philipp Merkt, CIO of PostFinance
PostFinance’s involvement with the crypto industry is nothing new as the bank has also partnered with online trading platform Swissquote back in 2021 to develop a mobile app that allows trading of traditional assets and cryptocurrencies.
This latest move by PostFinance to provide crypto exposure for its clients could accelerate the adoption rate among tradition finance users even further. According to blockchain analytics platform Blockdata’s last year’s report, 44 out of the top 100 public firms (by market cap) across the six major sectors are still using blockchain without reservation to this day.
