Switzerland and Liechtenstein Launching Retail Crypto
Switzerland’s PostFinance has partnered with the crypto bank Sygnum to launch a new retail cryptocurrency for its 2.5 million customers on Wednesday, attesting to the fact that digital assets have become an integral part of the financial world. PostFinance stated that it is the “first systemically important Swiss bank” to launch regulated trading and custody for eleven cryptocurrencies, including Bitcoin and Ethereum, making digital assets easily accessible to their clients.
PostFinance will use Sygnum’s B2B banking platform to integrate the crypto offering into its existing infrastructure. With this launch, customers will gain access to trading and custody services 24 hours a day, 7 days a week, available through the e-finance login or app, making crypto accessible in just a few clicks.
In a statement, Philipp Merkt, chief investment officer of PostFinance, emphasized the importance of digital assets and the necessity of providing customers with access to this market. According to Merkt, a reputable and established partner like Sygnum Bank with an excellent service offering is more important than ever.
Moreover, PostFinance is not alone in this venture, as it’s the latest to join over 15 other Swiss banks and international financial institutions on Sygnum’s B2B platform, which provides Swiss Financial Market Supervisory Authority (FINMA) regulated digital asset services.
As digital asset banking groups continue to expand, a new curated suite of crypto recovery options, dubbed “Safe Recovery Hub,” is also being offered in collaboration with global digital asset banking group Sygnum Bank and the UK-regulated recovery service provider, CoinCover. The recovery hub offers a wide range of options, including self-custodial, social recovery, and more, allowing users to optimize a key recovery solution that fits their personal risk preferences.
In conclusion, PostFinance and Sygnum’s partnership presents a significant step towards integrating digital assets into the global financial ecosystem, providing retail customers with easier access to cryptocurrency trading and custody services.
