Swiss PostFinance set to offer crypto trading

Switzerland’s fifth largest financial services firm, PostFinance, is starting to offer its 2.5 million customers cryptocurrency services, following its recent partnership with regulated digital asset services provider, Sygnum Bank, according to Fritz Jost, Chief B2B Officer at.

The Swiss government owned firm will provide access to its customers to buy, store and sell cryptocurrencies like Bitcoin and Ether, as well as other crypto tokens to be added later.

“PostFinance became aware of a considerable number in the hundreds of millions each year of outflows to crypto exchanges and the like, they saw that this is not only as an opportunity to add a new revenue stream, but also realized that this has a lot to do with client retention”, said Jost.

The decision comes in light of Switzerland’s approach to explore cryptocurrencies, unlike the US, which is going against it.