Postfinance, one in every of Switzerland’s largest retail banks, will provide prospects entry to main cryptocurrencies and associated companies. The state-owned monetary establishment might be utilizing the banking platform developed by the Swiss-licensed digital asset financial institution Sygnum.
Postfinance Partners With Sygnum to Provide Digital Asset Products and Services
The monetary companies unit of the nationwide postal service of Switzerland, Postfinance, has joined forces with crypto financial institution Sygnum to provide a variety of digital asset banking companies. To obtain that, the financial institution will make use of Sygnum’s B2B (business-to-business) banking platform.
The partnership allows the launch and growth of regulated bank-grade services for digital belongings, Sygnum mentioned in an announcement printed Wednesday. The Switzerland-based fintech firm additional elaborated:
Postfinance’s prospects might be ready to purchase, retailer and promote main cryptocurrencies akin to bitcoin and ethereum.
Postfinance has analyzed the funding wants of its prospects and detected robust demand for digital funding companies, Sygnum additionally defined. Its B2B banking platform will enable the Swiss state-owned financial institution to combine the brand new providing into its current 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 the financial institution’s Chief Investment Officer Philipp Merkt.
Sygnum holds each a Swiss banking license and a Singapore asset administration license. Being totally regulated, makes it one of many few banks globally which can be ready to present a bridge between conventional finance and digital belongings.
Sygnum Bank additionally highlighted that the B2B providing permits its accomplice banks to shortly enter the crypto market in a cost-efficient method and with regulation-compliant merchandise. Using it, Postfinance will even have the ability to proceed to introduce new companies akin to staking. Fritz Jost, Signum’s chief B2B officer, famous that the corporate is already working with over 15 accomplice banks.
Postfinance’s curiosity within the digital asset area isn’t new. Swiss Post’s monetary arm introduced its intentions to enter the crypto companies market in July, 2022. In May, the earlier yr, the financial institution had already launched a cellular app offering shoppers with entry to over a dozen cryptocurrencies.
Do you count on extra Swiss banks to additionally search B2B options permitting them to provide crypto-related services to their prospects? Tell us within the feedback part under.
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