PostFinance Bank has partnered with the digital bank Sygnum to offer crypto trading services to its 2.5 million customers.
Switzerland’s one of the largest retail banks jumps into the crypto bandwagon by partnering with Sygnum Bank. The latter announced that the partnership would enable PostFinance’s customers to buy, sell, and store leading cryptocurrencies such as Bitcoin and Ethereum.
The community believes that “Switzerland is leading the Crypto Adoption!”
PostFinance Bank’s Customer Demands Access to Crypto Markets
With the growing popularity of digital assets such as cryptocurrencies and Non-Fungible Tokens (NFTs), banks’ customers want exposure to the new asset class. PostFinance joins the list of banks working to address the surging demand for digital assets investments.
Philipp Merkt, the Chief Investment Officer (CIO) at PostFinance, says, “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. A reputable and established partner like Sygnum Bank with an excellent service offering is more important than ever.”
Crypto Adoption in Europe
Not just Switzerland but many other European countries are also embracing the crypto asset class. On Tuesday, Liechtenstein’s VP bank announced a partnership with Metaco to provide digital assets custody and tokenization services to its clients.
Germany’s largest banks, DekaBank and DZ bank, have partnered with Metaco to provide crypto custody services to their institutional clients.
Whereas the Neobank N26 expanded to provide crypto trading services in European countries such as Germany, Switzerland, Ireland, Belgium, and Portugal.
The developments come this year as Bitcoin’s price has increased by more than 70% since Jan. 2023.
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