Switzerland’s Post Office is set to onboard cryptocurrency trading through its banking arm PostFinance as user appetite for custody grows in the country.
Some 2.6 million users that currently bank with PostFinance, the fifth largest bank in the country, are expected to be able to buy and sell Bitcoin and other cryptocurrencies through an inhouse trading and custody service in the next two years.
As reported by local media outlet Swissinfo, the executive board of the Post Office’s banking arm intends to provide direct access to cryptocurrency markets through a proprietary service operated by PostFinance by 2024 at the latest.
It’s the latest step by the institution to afford its clients the ability to gain access to cryptocurrencies. In 2021, PostFinance partnered with online trading platform Swissquote to develop the Yuh mobile application, which gives users access to traditional shares and stock markets as well as over 25 cryptocurrencies.
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