While the repercussions of the collapse of the well-known banks of the financial world continue, some banks around the world continue to work to offer crypto services. A leading bank backed by the Swiss government, PotsFinance also added to this list. According to the reports, bank users will be allowed to buy, store and even sell Bitcoin and Ethereum.
It was noteworthy that this plan came after its partnership with Sygnum Bank. This bank received a banking license from the Swiss authorities about four years ago. As an experienced and regulated digital asset services provider, Sygnum Bank’s latest partnership will make things easier for PostFinance. PostFinance Chief Investment Officer Philipp Merk commented on the matter.
A respected and established partner with excellent service like Sygnum Bank is more important than ever.
Right now SwitzerlandPostFinance, ‘s fifth largest financial services firm, will offer only two key assets to its 2.5 million customers. Other cryptocurrency units will be added gradually with Bitcoin and Ethereum. Merkt also touched upon this crypto-friendly initiative and noted:
Digital assets have become an integral part of the financial world and our clients want to access this market with their trusted parent bank, PostFinance.
Although the development in question is presented as “hot” news, it may not be a hasty decision. In recent reports it reviewed, the bank found that customers had significantly shifted from traditional finance to crypto assets. Koinfinans.com As we reported, Fritz Jost, B2B Director of Sygnum Bank, claimed that “hundreds of millions of exits every year” to stock markets triggered the Swiss bank’s move. Jost added:
So they saw that this was not just an opportunity to add a new revenue stream, but they also realized that it had a lot to do with customer retention.
Also, Jost believes there is room for expansion. He outlined how banks can get started by making crypto available to customers. This will progress to the “staking and so on” stages. However, the Swiss bank’s latest move is expected to further boost crypto adoption in the region.
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