Swiss State-Owned Retail Bank Postfinance to Offer Major Cryptocurrencies Services

Postfinance, one of Switzerland's largest retail banks, will offer customers access to major cryptocurrencies and related services. The state-owned financial institution will be using the banking platform developed by the Swiss-licensed digital asset bank Sygnum.

The financial services unit of the national postal service of Switzerland, Postfinance, has joined forces with crypto bank Sygnum to offer a range of digital asset banking services. To achieve that, the bank will employ Sygnum's B2B (business-to-business) banking platform.

The partnership enables the launch and expansion of regulated bank-grade products and services for digital assets, Sygnum said in an announcement published last week. The Switzerland-based fintech company further elaborated: "Postfinance's customers will be able to buy, store and sell leading cryptocurrencies such as bitcoin and ethereum."

Postfinance has analyzed the investment needs of its customers and detected strong demand for digital investment services, Sygnum also explained. Its B2B banking platform will allow the Swiss state-owned bank to integrate the new offering into its existing infrastructure.

"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," commented Postfinance's Chief Investment Officer Philipp Merkt.

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, the previous year, the bank had already launched a mobile app providing clients with access to over a dozen cryptocurrencies.

Source: Bitcoin.com