Swiss post office’s banking unit, the state-owned Postfinance, is reportedly preparing to enter the crypto market. “Our clients want direct access to this market through their house bank.”
Swiss Post Office’s Banking Arm to Enter Crypto Market
The banking and financial services arm of Swiss Post, the state-owned enterprise responsible for Switzerland’s postal and other essential public infrastructure services, is reportedly planning to offer its customers direct access to cryptocurrencies.
The Swiss parliament established Postfinance’s predecessor in 1906 to provide payment services to retail customers. Postfinance operated as a division of Swiss Post until June 2013, when it became a bank under Swiss law. It is currently regulated by the Swiss Financial Market Supervisory Authority (FINMA).
The bank already offers crypto exposure to its customers through the Yuh app, which it co-developed with banking group Swissquote. “Yuh combines paying, saving, and investing in one package,”...
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