State-Owned Swiss Bank Postfinance to Offer Clients Direct Access to Crypto Market

Swiss station office’s banking unit, the state-owned Postfinance, is reportedly preparing to participate the crypto market. “Our clients privation nonstop entree to this marketplace done their location bank.”

Swiss Post Office’s Banking Arm to Enter Crypto Market

The banking and fiscal services limb of Swiss Post, the state-owned endeavor liable for Switzerland’s postal and different indispensable nationalist infrastructure services, is reportedly planning to connection its customers nonstop entree to cryptocurrencies.

The Swiss parliament established Postfinance’s predecessor successful 1906 to supply outgo services to retail customers. Postfinance operated arsenic a part of Swiss Post until June 2013, erstwhile it became a slope nether Swiss law. It is presently regulated by the Swiss Financial Market Supervisory Authority (FINMA).

The slope already offers crypto vulnerability to its customers through the Yuh app, which it co-developed with banking radical Swissquote. “Yuh combines paying, saving, and investing successful 1 package,” its website describes.

Postfinance’s caput of retail banking, Sandra Lienhart, was quoted arsenic saying:

Our clients privation nonstop entree to this marketplace done their location slope … Given the increasing institutionalization [of cryptocurrencies] successful the past 18 months, this is the perfect clip to participate the market.

Swiss Post has been selling crypto stamps. The first collection, issued successful November 2021, consisted of 175,000 crypto stamps. They were sold retired wrong 5 hours.

Last week, the station bureau announced that it is launching Swiss Crypto Stamp 2.0. “The 2nd crypto stamp postulation volition beryllium disposable from selected branches and astatine postshop.ch from 8 August 2022, with an contented of 250,000 stamps,” according to the announcement.

There volition beryllium 10 antithetic designs “reflecting the assorted values of Switzerland, specified arsenic solidarity, sustainable thinking, peace, and diversity,” the announcement continues, adding that erstwhile placed adjacent to each other, the 10 designs signifier a larger picture.

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