Swiss State Bank Postfinance Offers Clients Direct Access To Crypto Market – Featured Bitcoin News

Swiss State Bank Postfinance Offers Clients Direct Access To Crypto Market – Featured Bitcoin News

Swiss Post’s banking unit, state-owned Postfinance, is reportedly preparing to enter the crypto market. “Our customers want direct access to this market through their home bank.”

Swiss Post’s banking arm is entering the crypto market

The banking and financial services arm of Swiss Post, the state-owned enterprise responsible for Switzerland’s postal and other basic public infrastructure services, is allegedly planning to offer its customers direct access to cryptocurrencies.

In 1906, the Swiss Parliament established the predecessor of Postfinance to provide payment services to individuals. Postfinance operated as a division of Swiss Post until June 2013, when it became a bank under Swiss law. It is currently regulated by the Swiss Financial Market Supervisory Authority (FINMA).

The bank already offers crypto exposure to its clients through the Yuh app, which he developed together with the banking group Swissquote. “Yuh combines payment, savings and investing in one package,” the website describes.

Sandra Lienhart, Head of Retail Banking at Postfinance, said:

Our clients want direct access to this market through their home bank… Given the growing institutionalization [of cryptocurrencies] in the last 18 months, this is an ideal time to enter the market.

Swiss Post sells crypto stamps. The first collection, issued in November 2021, consisted of 175,000 crypto marks. They sold out within five hours.

Last week, the post office announced that it was launching Swiss Crypto Stamp 2.0. “The second collection of crypto stamps will be available in selected branches and on postshop.ch from August 8, 2022, with an edition of 250,000 stamps,” the announcement said.

There will be 10 different designs that will “reflect the different values ​​of Switzerland, such as solidarity, sustainable thinking, peace and diversity,” the announcement continued, adding that when placed side by side, the ten designs form a bigger picture.

What do you think about Postfinance entering the crypto market? Let us know in the comments section below.

Swiss State Bank Postfinance Offers Clients Direct Access To Crypto Market – Featured Bitcoin News

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open-source systems, network effects, and the intersection between economics and cryptography.




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