Swiss Postfinance and Sygnum Redefine Banking with New Collaboration

Swiss Post’s financial subsidiary, Postfinance, has introduced a new cryptocurrency trading and custody service, enabling customers to effortlessly purchase or securely store 11 cryptocurrencies and establish crypto saving plans.

The launch, aimed at enhancing user-friendliness and transparency, is part of Postfinance’s commitment to democratizing the crypto market. Regulated by the Swiss Financial Market Supervisory Authority (FINMA), Postfinance collaborates with FINMA-regulated crypto bank Sygnum, becoming Switzerland’s first systemically important bank to offer direct crypto trading to customers.

With a low entry threshold of $50 for crypto saving plans and individual orders, the service operates 24/7 via e-finance or the Postfinance App. Postfinance’s Chief Investment Officer, Philipp Merkt, highlights cryptocurrencies as a valuable addition to investment portfolios, emphasizing their permanence and accessibility through the principal bank. Alexander Thoma, Postfinance’s head of digital assets, underscores the growing trend towards blockchain technology and customer demand for regulated crypto services, anticipating sustained interest in cryptocurrency investments.

Clever Robot News Desk 22^nd February 2024