PostFinance, the financial services company fully owned by the Swiss government, has announced its partnership with Sygnum, the digital assets bank, to provide a range of crypto services to its customers. PostFinance’s customers will now have access to regulated crypto services, including buying, storing, and selling cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). The partnership with Sygnum will allow PostFinance to offer a range of digital investment services that cater to its customers’ investment needs. This move comes as PostFinance identified a strong demand for digital investment services among its customers.
📰📣 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
Sygnum’s B2B banking platform enables existing financial institutions to offer crypto products and services. PostFinance will join over a dozen of Sygnum’s other banking partners, allowing its customers access to institutional-grade staking services. The staking offerings include Ethereum, Cardano (ADA), Internet Computer (ICP), and Tezos (XTZ).
PostFinance’s CIO Chief Investment, Philipp Merkt, stated that digital assets have become an integral part of the financial world, and their customers want access to this market. He added that a reputable and established partner like Sygnum Bank with an excellent service offering is more important than ever.
In addition to offering revenue-generating services such as crypto staking, the partnership also enables PostFinance to provide a range of institutional-grade custody and trading services for the USDC stablecoin, as well as for a portfolio of decentralized finance (DeFi) tokens, such as Aave (AAVE), Aragon (ANT), Curve (CRV), Maker (MKR), Synthetix (SNX), Uniswap (UNI), and 1inch (1INCH).
Sygnum and PostFinance have not yet responded to Decrypt’s request for comment on this announcement. The move by PostFinance is a significant development in the Swiss financial services industry and further highlights the increasing demand for digital investment services.