Postfinance, one of the largest retail banks in Switzerland, will offer clients access to major cryptocurrencies and related services. The state financial institution will use the banking platform developed by the Swiss-licensed digital asset bank Sygnum.
Postfinance partners with Sygnum to provide digital asset products and services
The financial services unit of the Swiss national postal service, post-financing, has joined forces with crypto bank Sygnum to offer a range of digital asset banking services. To achieve this, the bank will use Sygnum’s B2B (business-to-business) banking platform.
The partnership enables the launch and expansion of bank-grade regulated products and services for digital assets, we stink he said in an announcement published Wednesday. The Swiss-based fintech company elaborated further:
Postfinance clients will be able to buy, store and sell leading cryptocurrencies such as bitcoin and ethereum.
Postfinance analyzed the investment needs of its clients and detected a strong demand for digital investment services, Sygnum also explained. Its B2B banking platform will allow the Swiss state bank to integrate the new offering into its existing infrastructure.
“Digital assets have become an integral part of the financial world, and our clients want to access this market at Postfinance, their trusted primary bank,” said Philipp Merkt, the bank’s chief investment officer.
Sygnum holds a Swiss banking license and a Singapore asset management license. Being fully regulated, it is one of the few banks globally that can provide a bridge between traditional finance and digital assets.
Sygnum Bank also highlighted that the B2B offering allows its partner banks to quickly enter the crypto market profitably and with compliant products. Using it, Postfinance will also be able to continue to introduce new services like staking. Fritz Jost, Signum’s B2B director, noted that the company is already working with more than 15 partner banks.
Postfinance’s interest in the digital asset space is not new. Swiss Post’s financial arm announced its intentions to enter the crypto services market in July 2022. In May of the previous year, the bank had already launched a mobile app that gives customers access to more than a dozen cryptocurrencies.
Do you expect more Swiss banks to also look for B2B solutions that allow them to offer cryptocurrency-related products and services to their customers? Tell us in the comment section below.
image credits: Shutterstock, Pixabay, Wiki Commons, Judith Linine/Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
