PostFinance and Swissquote have partnered on a new digital finance app that is being described as the dawn of a new era in mobile banking in Switzerland.
Called “Yuh” the money management app is now available in both the Apple App Store and Google Play. The app allows you to invest in over 100 of the most popular global stocks and ETFs, as well as 13 cryptocurrencies.
Simultaneously, the two firms announced the launch of a new crypto – Swissqoin.
Markus Schwab, CEO of Yuh, explains they want to place the entire financial world in the palm of your hands with low to no fees. There are no basic fees charged for Yuh, be it for account management, payments, P2P transfers or debit card. Fees for the purchase or sale of equities (0.5%) or cryptocurrencies (1%) are expected to be kept as low as possible,
With Swissqoin, you can participate in the success of the app. Anyone who opens a Yuh account and deposits at least CHF 500 will receive 500 Swissqoins free of charge. Additional Swissqoins can be earned through activities on the app and traded with other.
The value of every Swissqoin is expected to rise, as Yuh will regularly invest a proportion of its revenues in this new cryptocurrency.