It’s now getting serious: crypto is becoming a regulated mass business in Switzerland. Post subsidiary Postfinance and crypto bank Sygnum are at the forefront here.
Postfinance, in cooperation with Swiss-Singaporean bank Sygnum, is launching a crypto offering, as the two companies announced on Tuesday.
Fifty-Dollar Threshold
This, to provide the Postbank’s 2.5 million customers, representing over 100 billion Swiss francs in customer assets and 1.3 billion payment transactions per year, with secure access to crypto markets at attractive conditions, as the two financial services providers promoted.
Postfinance customers will be able to access specialist Sygnum’s services through a digital interface (API). These services include trading, account management, and even savings plans, it is reported. Users can access them by logging into the Postfinance account or in the app. The offering includes 11 cryptocurrencies. The entry threshold is just 50 dollars.
Cantonal Banks are Already in the Game
As finews.ch has already reported, crypto is poised to break into the Swiss mass market. Two established retail banks have already launched this kind of offering: Zug and St. Gallen cantonal banks. A further boost to these initiatives is the sharp increase in the prices of tokens and coins. For example, Bitcoin, the oldest digital currency, has gained another fifth in value this year and is now trading at almost 52 thousand dollars.
Sygnum claims it already serves over 15 Swiss banks and international financial banks via its platform.
