PostFinance, the government-owned lender, will offer clients trading and custody of digital assets. The initiative will be implemented in cooperation with the regulated cryptocurrency bank Sygnum.
?? NEWS: @PostFinance partners with Sygnum, the world’s first digital asset bank, to offer its customers regulated digital asset banking services via Sygnum’s B2B banking platform. Read the announcement here ? https://t.co/zuWRP3lXIS
— Sygnum Bank (@sygnumofficial) April 5, 2023
PostFinance will join the institution’s B2B platform. In accordance with regulatory requirements, it supports liquidity across a broad range of cryptocurrencies, and services such as staking are also available.
Philipp Merkt, PostFinance’s chief investment officer, explained that the expansion of the product line was driven by growing demand for digital assets among clients.
Established in 1906, the bank is a subsidiary of Swiss Post’s financial services arm, the Swiss national postal service.
In 2021, the provider and Swissquote launched the Yuh app. Its users gained the ability to invest in Bitcoin, Ethereum and another 11 cryptocurrencies.
Earlier in January 2022, Sygnum‘s valuation reached around $800 million following a $90 million Series B financing round.