1 year ago
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To provide virtual currency services
Swiss-Singapore based digital asset bank Sygnum announced today that it has partnered with Swiss state-owned financial institution PostFinance.
Through the partnership, PostFinance will offer customers digital asset banking services via Signum’s enterprise banking platform. Customers will also be able to buy, sell and hold major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
NEWS: @PostFinance partners with Sygnum, the world’s first digital asset bank, to offer its customers regulated digital asset banking services via Sygnum’s B2B banking platform. Read the announcement here 
https://t.co/zuWRP3lXIS
—Sygnum Bank (@sygnumofficial) April 5, 2023
connection: Swiss post office plans to offer virtual currency trading = report
PostFinance analyzes clients’ investment needs. The results revealed strong demand for digital investment services. Based on this result, we will now connect the existing infrastructure with the Signum platform.
According to the announcement, Signum’s platform is compliant with regulations, allowing PostFinance to offer a range of cryptocurrency services in a flexible and efficient manner. It will also allow the introduction of new revenue-generating services, such as staking.
What is staking
Mechanisms and services that provide rewards for depositing virtual currency for a specified period of time. By depositing virtual currency, you can contribute to the operation of the blockchain network and receive rewards in return.
Cryptocurrency Glossary
connection:Thorough comparison of domestic exchange staking services | Explanation of Ethereum staking procedures
The Chief Investment Officer of PostFinance Ltd commented on the partnership as follows:
Digital assets have become essential assets in the financial realm. Our clients want to access the market for digital assets with PostFinance, a trusted major bank.
A reliable and proven partner like Signum is more important than ever.
According to its official website, PostFinance has more than 2.5 million customers. It is said to be the fifth largest financial services company in Switzerland.
About stocks handled
Signum is licensed to provide digital asset services in Switzerland and Singapore. The FAQ page on the official website states that Bitcoin, Ethereum, Bitcoin Cash (BCH), Tezos (XTZ), Litecoin (LTC), XRP, etc. can be traded.
connection: Signum Bank supports Ethereum 2.0 staking
Regarding PostFinance’s virtual currency service, a Signum executive explained to the virtual currency media “Decrypt” as follows.
We currently offer 25 major cryptocurrencies, over 60 currency pairs, 4 fiat currencies, and are continuously expanding our services.
PostFinance will be able to handle similar stocks, but we will discuss and decide on stocks handled and staking services.
The timing of PostFinance’s launch of digital asset services was also not specified in the announcement.
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