PostFinance is launching a new crypto service for Switzerland. PostFinance is a financial service firm that serves over 2.5 million customers in Switzerland. It aims to assist smaller firms in their transition to digital finance including banking, payments, money management and more.
PostFinance claims that it is leading the way in the Swiss financial sector, launching a crypto service on February 21, 2024.
This will enable its customers “to purchase or securely store an initial range of 11 cryptocurrencies at the click of a mouse or even set up a crypto saving plan – similar to a funds saving plan.”
The launch aims to promote user-friendliness, transparency, and attractive conditions for all.
PostFinance says that it will “be the first systemically important bank in Switzerland to bring crypto trading directly to its customers.”
Easy access and the low entry threshold of 50 US dollars “for crypto saving plans and individual orders make this service particularly accessible and help democratize the crypto market for everyone.”
Philipp Merkt, Chief Investment Officer at PostFinance, said:
“Cryptocurrencies offer an additional investment option and are here to stay. The benefit is that our 2.5 million customers can now invest in cryptocurrencies easily and securely with their principal bank. In addition to traditional asset classes such as cash, bonds and shares, cryptocurrencies are part of a variety of attractive alternative investment options such as real estate and raw materials.”
The launch on 21 February 2024 is described as “a milestone for PostFinance. In conjunction with the FINMA-regulated crypto bank Sygnum, PostFinance is offering its customers a clear range of cryptocurrencies with transparent and attractive prices.”
Head of Digital Assets Dr Alexander Thoma, discussing the launch:
“The major trend towards blockchain technology will continue growing in future, and our customers want to participate in this technology. A large proportion of our customers have expressed a need to purchase cryptocurrencies without having to use loosely regulated crypto exchanges. Our service will enable them to do precisely this – and much more.”
PostFinance customers will benefit “from 24/7 trading from their own accounts through the new service. This means that they can buy and sell cryptocurrencies anytime and anywhere via e-finance or the PostFinance App.”
As covered, PostFinance claims that it is “one of Switzerland’s leading financial institutions, with 106 billion francs in customer assets and more than a billion payment transactions a year.”
Around 2.5 million customers “place their trust in PostFinance when it comes to managing their money. As a diversified, innovation-driven financial services provider, it offers its customers fresh solutions and smart innovations for managing their finances.”
To do so, it relies “on future-oriented tools and technologies that are specially developed or adapted for the Swiss market.”
As noted in the update, Sygnum, founded in Switzerland and Singapore, is “a global digital asset banking group.”
Sygnum enables professional and institutional investors, banks, companies and DLT foundations “to invest in digital assets with the utmost confidence. Sygnum has a banking licence in Switzerland, as well as CMS and major payment institution licences in Singapore.”