The fifth-largest financial services company in Switzerland, PostFinance, has revealed that it would collaborate with Sygnum Bank, a licensed supplier of digital asset services, to give its 2.5 million clients access to cryptocurrencies.

The collaboration will make it possible for #PostFinance users to purchase, store, and exchange popular #Cryptocurrencies like #bitcoin and ether, with ambitions to eventually include more digital assets.

Inflows from Swiss retail #banks into the digital asset class were a contributing factor in PostFinance's decision to offer bitcoin services. By providing crypto services and generating a new revenue stream, PostFinance intends to keep its customers. Fritz Jost, Chief B2B Officer of Sygnum Bank, stated that PostFinance:

"Got aware of a large figure in the hundreds of millions each year of outflows to crypto exchanges and the like."

Switzerland has welcomed the cryptocurrency business more than other nations, such as the United States, where there appears to be a determined campaign to banish cryptocurrencies. A variety of organizations, including Cantonal banks and private banks, are served by Sygnum Bank, which received a banking license from Swiss regulators four years ago.

Philipp Merkt, the chief investment officer at PostFinance, stated that:

"Digital assets have become an integral part of the financial world, and our customers want access to this market at PostFinance, their trusted principal bank."

He then added:

"A reputable and established partner like Sygnum Bank with an excellent service offering is more important than ever."

PostFinance hasn't made up its mind on which cryptos it will offer, though a wide variety will undoubtedly be made available.

This news is republished from https://coinaquarium.io/