PostFinance, the monetary companies agency totally owned by the Swiss authorities, will supply its clients a variety of regulated crypto companies delivered by way of Sygnum’s B2B banking platform.
Because of the partnership with digital belongings financial institution Sygnum, its clients will now be capable to purchase, retailer, and promote cryptocurrencies similar to Bitcoin (BTC) and Ethereum (ETH), in accordance with an announcement. PostFinance is Switzerland’s fifth-largest monetary companies agency boasting greater than 2.5 million clients.
In accordance with Sygnum, PostFinance “uncovered a robust demand for digital funding companies” after analyzing its clients’ funding wants.
Sygnum’s B2B banking resolution lets current monetary establishments crypto services and products, with PostFinance becoming a member of greater than a dozen of the platform’s different banking companions.
“Digital belongings have develop into an integral a part of the monetary world, and our clients need entry to this market at PostFinance, their trusted principal financial institution,” PostFinance’s CIO Chief Funding Philipp Merkt mentioned in a press release. “A good and established accomplice like Sygnum Financial institution with a superb service providing is extra vital than ever.”
Sygnum and PostFinance didn’t reply instantly to Decrypt’s request for remark.
Institutional-grade staking companies
The brand new partnership additionally allows PostFinance to offer revenue-generating companies similar to crypto staking—a technique of locking crypto belongings for a set time period to assist safe a blockchain community in alternate for rewards on customers’ holdings.
Sygnum’s staking choices embrace Ethereum, the business’s second-largest cryptocurrency by market capitalization, Cardano (ADA), Web Laptop (ICP), and Tezos (XTZ).
In June 2021, Sygnum additionally launched institutional-grade custody and buying and selling companies for the USDC stablecoin, in addition to for a portfolio of decentralized finance (DeFi) tokens, similar to Aave (AAVE), Aragon (ANT), Curve (CRV), Maker (MKR), Synthetix (SNX), Uniswap (UNI), and 1inch (1INCH).
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