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  • Thu. Aug 18th, 2022

Swiss post office to launch crypto custody and trading services

ByNdasi Tata

Jul 12, 2022
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1657567571659 b9d88e53 3200 4f3e b775 b83c17f56d94

The Swiss post office, via its banking arm PostFinance, plans to launch the crypto custody and trading services by 2024.

The Swiss post office is looking to offer crypto custody and trading services to its customers, the company said on Monday.

The new services will be available via Swiss post office’s banking arm PostFinance, and targets going live by 2024, according to a report published by the Swiss Info.

Swiss post office acts on growing customer demand

While the Swiss post office recognizes that the current market conditions have been brutal to the crypto sector, it says this is indeed the “ideal time” to make an entry.

Growing demand from customers has been helped by PostFinance’s previous collaboration with Swissquote, the first major bank in the country to offer crypto trading to its clients in 2017. PostFinance does offer crypto exposure to its retail clients via a digital app dubbed YuhExternal.

The financial services provider is now looking to revamp that through a proprietary crypto trading and custody service.  To help bring this into reality over the year and a half, PostFinance is working on potential business partners.

PostFinance is the fifth largest retail bank in Switzerland and its plans will see it join global giants such as Goldman Sachs, JPMorgan and Fidelity in looking to tap into crypto services.

The post Swiss post office to launch crypto custody and trading services appeared first on CoinJournal.

Ndasi Tata

Ndasi Tata is a Cameroonian-born Bitcoin entrepreneur and former state journalist who's also known for being a Bitcoin and Blockchain advocate. He's a crypto lover and reporter and has promoted several crypto projects within the African Continent. He uses a variety of social media and online channels. In addition to running a successful Facebook page with thousands of fans, he also promotes blockchain and bitcoin development initiatives on the well-liked YouTube channel #cryptoafrica-now. He earned an M.Sc. from the University of Nicosia in Cyprus in Blockchain and Digital Currency. At the University of Nicosia, Andreas Antonopoulos, Ph.D., and Antonis Polemitis, Ph.D., serve as role models.

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