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MTrading Team • 2023-04-06

Swiss State Bank PostFinance Will Offer Crypto Trading

Swiss State Bank PostFinance Will Offer Crypto Trading

PostFinance, the Swiss state bank, is planning to team up with Sygnum to offer crypto trading to its customers. It actually replicates the way U.S. banks and overseas financial institutions approach the crypto industry. They all strive to offer cryptocurrency custody and trading products to their customers.

The retail bank is owned by the Swiss government. It is also the nation’s largest retail bank. Recently, PostFinance official representatives announced a collaboration with the glove’s first digital asset bank Sygnum. Together, they plan to deliver a range of regulated crypto and digital asset services using the integrated Sygnum platform developed with a focus on B2B clients.

It means new ways of purchasing and selling digital assets for retail customers. This involves top-rated cryptocurrencies like BTC and ETH. Clients will be able to trade coins and store them in their personal banking accounts.

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According to the recent PostFinance survey, the bank discovered a strong customer demand for digital investment products. Collaboration with Sygnum will let them seamlessly integrate new services and products into the bank’s existing digital ecosystem.

Digital asset services will be delivered via the Sygnum B2B institutional platform holding a Swiss banking license. It provides compliant digital products and different market entries for regulated financial institutions. Currently, 15 different banks use the network worldwide.

Apart from traditional crypto services, the bank plans to deliver additional perks to its users. For example, clients will have direct access to a range of services to generate revenues like taking an ongoing basis.

European banks have already shown their intention to enable different staking services. At the same time, the U.S. still cannot decide on how to classify different tokens and whether to consider them securities.

May the trading luck be with you!