Switzerlands’s government-run bank, PostFinance, recently declared that they will begin offering cryptocurrency staking services to their clients.
Starting January 16th, PostFinance unveiled an expansion of their crypto trading and safekeeping service, now incorporating staking. The bank is initiating Ethereum (ETH) staking, with intentions to broaden this service to include more cryptocurrencies down the line.
By adopting crypto staking, PostFinance now aligns with leading banks, enabling its clients to generate passive income from Ethereum deposits. This feature can be accessed conveniently through the bank’s e-finance platform or PostFinance App.
Approximately a year ago, the bank started offering services for cryptocurrency trading and safekeeping through a collaboration with Sygnum, a digital asset platform overseen by FINMA. This partnership was officially announced in February 2024. In addition to this, Sygnum provides crypto staking opportunities for coins like ETH, XTZ, and ADA.
In response to the staking service, Dr. Alexander Thoma, who leads the digital assets department at PostFinance, expressed his thoughts.
Our ‘staking’ feature operates through what we call ‘native staking,’ which means it happens right on the Ethereum blockchain. This direct connection ensures top-notch transparency and security.
Significantly, PostFinance has merged the staking service into its current services, allowing clients to see their earned staking returns together with their cryptocurrency holdings.
By September 2024, Zurich Cantonal Bank, a top-tier Swiss financial institution, ventured into the cryptocurrency world by enabling digital asset trading for their clients. ZKB made Bitcoin and Ethereum trading available, as well as custody solutions, seamlessly incorporating these functionalities within its online banking and mobile applications.
The bank announced that they will work together with Crypto Finance AG, a subsidiary of the Deutsche Börse Group, to provide the service.
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2025-01-16 19:52