- The Swiss post office is offering crypto trading and crypto custody services.
- It will do so through its banking arm — PostFinance.
- The services will most likely be available by 2024 at the latest.
Swiss post office announces its intent to launch its own crypto trading and custody services to its clients. In detail, the Swiss post office will be extending its cryptocurrency entry via its banking arm PostFinance.
Specifically, the brand will be rolling out a crypto trading and custody product. This decision came after much demand from their users. Adding on, the company says that the services will most likely be available by 2024 at the latest.
To highlight, the service will be completely and entirely independent from the bank’s other cryptocurrency products. Thus, this will make the service to be the first of its kind within the nation’s borders.
It seems the entity has deemed it imperative to delve into the cryptocurrency sector. It believes that venturing into the industry should be a priority despite the ongoing crypto winter.
This indicates another power in the financial world that believes crypto adoption is here to stay. After all, if one is planning for the future even when the current situation is rocky, it only means that they have faith in an inevitable crypto recovery.
Besides, many crypto analysts, investors, and enthusiasts are continually watching the market and crypto charts daily. More so, many are certain that the market is heading to a gradual recovery. Most importantly, many experts and analysts expect Bitcoin (BTC) to hit a new all-time high.
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Post Finance’s head of retail banking — Sandra Lienhart says,
Our clients want direct access to this market through their house bank. Given the growing institutionalisation [of cryptocurrencies] in the last 18 months, this is the ideal time to enter the market.
Finally, the new service will include custody and trading of cryptocurrencies. Presently, the entity is in talks about its intention of onboarding other external partners. While 2024 seems like a long way from now, we can await further details over the next few quarters.
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