One of the largest state-owned banks in Switzerland, PostFinance, has released the buying, selling and custody of bitcoin to its customers after announcing a partnership with Sygnum this Monday (5).
Sygnum is a digital bank operating in the country, said to be the first in the world to enable cryptocurrency trading for customers. The institution has its headquarters in Switzerland and Singapore.
The solutions are established through a B2B partnership between regulated banks and are expected to deliver a broad range of digital assets to PostFinance clients.
State-owned Swiss bank allows bitcoin trading after assessing customer demand
In a message to the market, Sygnum stated that it will help PostFinance offer cryptocurrencies to its customers. This is because after analyzing the customer base, the banking institution understood that there was a strong demand for investing in cryptocurrencies.
The digital bank recalls that it has a regulated infrastructure in Switzerland, i.e. it is one of the few institutions in the world that can safely bridge cryptocurrencies and traditional assets.
According to Philipp Merkt, chief investment officer at PostFinance, digital assets have already become part of the financial world.
“Digital assets have become an integral part of the financial world and our clients want access to this market from PostFinance, their trusted premier bank. A reputable and established partner like Sygnum Bank with an excellent service offering is more important than ever.”
Digital bank has already helped 15 other banking partners to offer cryptocurrency services
In June 2022, Sygnum reached ten partner banks, giving all of them access to the cryptocurrency market. Since then, the sum has grown to more than 15 institutions that offer bitcoin, ethereum and other currencies in collaboration.
According to Fritz Jost, director of B2B at Sygnum Bank, the institution’s banking partners have access to cryptocurrencies at the institutional level.
“Our complete B2B banking platform enables our more than 15 B2B partner banks to scale and rapidly expand their range of regulated digital asset services. We are pleased to enable PostFinance to provide institutional-grade digital asset services to its clients. We are determined to continuously drive more innovation and positive change for the industry and the clients of our partner banks.”
It is worth remembering that the entry of banks into the cryptocurrency market contrasts with greater global pressure on native crypto exchanges and platforms. By all indications, regulators are comfortable releasing operations under regulation and banks should gain more market share in this market.
Source: Live Coins

Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.