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PostFinance of Switzerland has collaborated with the cryptocurrency bank Sygnum to introduce a new retail cryptocurrency for its 2.5 million customers on Wednesday, as digital assets increasingly become a “fundamental component” of the financial landscape.
In a statement, PostFinance announced that it is the “first systemically significant Swiss bank” to initiate regulated trading and custody for eleven cryptocurrencies, including Bitcoin and Ethereum. PostFinance will utilize Sygnum’s B2B banking platform to incorporate the crypto services into its current framework.
“Digital assets have become a fundamental component of the financial landscape, and our clients seek access to this market through PostFinance, their reliable primary bank. A trustworthy and established partner like Sygnum Bank, with its excellent service offerings, is more crucial than ever,” stated Philipp Merkt, chief investment officer of PostFinance, in a press release.
The bank indicated that customer benefits will encompass 24/7 access to trading and custody, a login from any PostFinance account online or via their app, and secure access through a trusted Swiss banking partner.
“With this launch, PostFinance provides cryptocurrencies directly to their clients through the e-finance login or app, making crypto accessible in just a few clicks,” remarked Fritz Jost, chief B2B officer at Sygnum Bank.
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PostFinance is the latest institution to join over 15 other Swiss banks and international financial entities on Sygnum’s B2B platform, which offers digital asset services regulated by the Swiss Financial Market Supervisory Authority (FINMA).
Sygnum Bank Crypto Recovery Hub
In December, the smart wallet infrastructure provider Safe teamed up with Sygnum Bank to unveil a curated selection of crypto recovery solutions, referred to as “Safe Recovery Hub,” as reported by Sujha Sundararajan from Cryptonews.
This service is provided in partnership with the global digital asset banking group Sygnum Bank and the UK-regulated recovery service provider CoinCover. According to a company statement, the crypto recovery hub presents a variety of options, including self-custodial and social recovery, among others.
The service allows users to tailor a key recovery solution to align with their individual risk preferences, explains Lukas Schor, co-founder of Safe. This addresses the difficulties associated with the current complex key management systems, where users have limited recovery options available.
The post Switzerland’s PostFinance Starts Offering Crypto in Partnership With Sygnum appeared first on Cryptonews.
