PostFinance, a Swiss state-owned bank, has announced the launch of crypto staking for its customers.
On January 16, Financial Post name that it has expanded its crypto trading and holding solution to include staking. The bank offers Ethereum (ETH) stake and plans to expand the service to other cryptocurrencies in the future.
PostFinance's move places it alongside other major banks that offer crypto stakes, allowing their customers to earn passive income from their ETH investments. Customers will be able to access ETH stake through the bank's e-finance and PostFinance App.
This development comes nearly a year after the bank introduced support for crypto trading and custody through a partnership with FINMA-regulated digital asset platform Sygnum. PostFinance and Sygnum announced their partnership in February 2024. Meanwhile, Sygnum offers crypto investment for coins like ETH, XTZ, and ADA.
Speaking about the funeral service, Dr. Alexander Thoma, head of digital assets at PostFinance:
“The “staking” service is based on “native staking”, which takes place directly on the Ethereum blockchain and thus offers maximum transparency and security”.
In particular, PostFinance has integrated the stake service with its existing offers, allowing customers to see their accumulated cash rewards together with their crypto assets.
In September 2024, Zurich Cantonal Bank, the fourth largest bank in Switzerland, entered the crypto market by launching digital asset trading for its customers. ZKB introduced Bitcoin and Ethereum trading and holding, integrating these services into its eBank and mobile banking platforms.
The bank said would provide the service in cooperation with Deutsche Börse Group subsidiary Crypto Finance AG.
