Swiss Post PostFinance’s banking division will open access to Bitcoin and Ethereum trading to its clients. 2.5 million customers will be able to store and sell cryptocurrencies in their accounts.
Sygnum Bank, a cryptocurrency provider, will partner with PostFinance, which, in turn, is state-owned and one of the largest banks in the country.
It appears from Sygnum’s message that the organization will provide PostFinance with its b2b platform, which will be embedded in the bank’s infrastructure. PostFinance explained this step due to the great demand from clients for digital investment services.
As Sygnum explained, there has recently been a significant outflow of funds from the country’s retail banks into the digital asset class. This may have contributed to PostFinance’s transition to cryptocurrencies.
Thus, the measure aims not so much to increase income as to maintain existing ones. In the future, it is planned to provide clients with access to other cryptocurrencies.
In mid-March, the State Duma of the Russian Federation approved in first reading a law that will provide opportunities for the introduction of a digital ruble.
Subsequently, they reported that it was planned to complete the work on the document in the near future. The new measures are expected to take effect in May.
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.