Swiss Bank PostFinance Partners With Sygnum Bank for Regulated Crypto Services

Swiss banking giant PostFinance has announced a partnership with Sygnum Bank in a move to make regulated cryptocurrency custody accessible to its impressive 2.5 million customer base for the first time.

This collaboration opens the door for millions to securely store and manage their digital assets, potentially marking a significant step towards mainstream crypto adoption.

According to a tweet by CryptoCrunchApp, "Swiss Bank PostFinance dives into cryptocurrency with new trading and custody solutions.”

Image credit: @CryptoCrunchApp

This partnership marks a milestone for PostFinance, making it the first systemically important Swiss bank to provide regulated crypto trading and custody.

In addition to benefiting more than fifteen partner banks and various international financial institutions,Sygnum Bank and PostFinance's innovative endeavor is expected to impact over a quarter of the Swiss population.

Furthermore, the move aligns with the growing trend of traditional financial entities recognizing the potential of digital assets and seeking to provide their clientele with secure and regulated avenues for cryptocurrency investments.

With assets under management exceeding 100 billion Swiss francs and 1.3 billion transactions processed annually, PostFinance is well-positioned to seamlessly integrate cryptocurrencies into its existing infrastructure.

Leveraging Sygnum's robust B2B banking platform, the collaboration aims to offer a secure and efficient solution for customers looking to invest in the rapidly expanding digital asset space.

Sygnum bank secure access to crypto market

Fritz Jost, Chief B2B Officer of Sygnum Bank, highlighted the broader implications of this partnership, emphasizing that over 15 partner banks will be empowered to deliver regulated digital asset services at scale and speed. 

In a press release by Sygnum, Fritz stated: “Sygnum is pleased to empower PostFinance to deliver institutional-grade digital asset services to their customers. With this launch, PostFinance brings cryptocurrencies directly to their clients via the e-finance login or app, making crypto accessible in just a few clicks."

This move not only ensures the future-proofing of their offerings but also bolsters their competitive standing within the financial market.

How important is this partnership?

Beyond mere partnership, this move could reshape the financial landscape by unlocking crypto accessibility for millions of potential customers.The participation of a trusted Swiss banking institution also adds an extra layer of credibility and reliability to the partnership deal, highlighting the potential of the crypto market.

Lastly, the collaboration represents a progressive step towards the mainstream integration of digital assets within the established framework of the Swiss banking sector.