Switzerland has long prided itself on being an innovative hub for the crypto and blockchain industry. This time, Swiss financial services firm PostFinance has announced its partnership with digital asset services provider Sygnum Bank, adding another feather to the country’s crypto-supportive cap. PostFinance, which is the banking branch of the local postal service and owned by the Swiss government, will now be able to offer its 2.5 million users access to various crypto assets such as Bitcoin and Ether, with more tokens to be added in the future. Additionally, customers will also have access to revenue-generating services such as staking.

The partnership will create an opportunity for PostFinance to offer a crypto service to its customers, given that crypto-focused Sygnum Bank has widely established its platform which services a range of institutions such as Cantonal banks and private banks. As per PostFinance Chief Investment Officer Philipp Merkt’s statement, the firm anticipates “digital assets [to] become an integral part of the financial world, and [its] customers [to] want access to this market at PostFinance, their trusted principal bank.”

Additionally, Sygnum Bank’s Chief B2B Officer Fritz Jost suggests that the idea of this venture was largely brought Suitable through the “considerable outflows” that were being reported to crypto exchanges and similar. The regulatory action taking place in other countries such as the US have been quite different from Switzerland which has been quite open to digital assets. This was further proved this week as the Swiss Post announced next month’s launch of “crypto stamps” which will include both physical and non-fungible token (NFT) versions, as well as integrate artificial intelligence (AI). As such, the country is turning itself into one of the strongholds of the crypto and blockchain industry, with PostFinance benefitting hugely from its participation in it.



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