Swiss financial company PostFinance AG has introduced staking for the cryptocurrency Ether on its platform, aiming to expand offerings for clients seeking passive income.
Entering the Crypto Market
In February 2024, the financial subsidiary of the Swiss Post launched its crypto trading platform. Claiming to be the first systematically important Swiss bank to directly work with cryptocurrencies, clients can trade and possibly initiate crypto savings plans with 11 different tokens.
Ether Staking Integration
The company has now added staking services solely for Ethereum holders, promising to expand staking to other tokens soon. PostFinance states it is the first systemically important bank in Switzerland to permit staking. Alexander Thoma, Head of Digital Assets at PostFinance, noted that the staking service is fully integrated into PostFinance's existing services, allowing customers to see their rewards directly in their portfolio statements.
Switzerland's Bitcoin Ambitions
As PostFinance introduces its staking offering, there is a renewed interest in digital assets in Switzerland. Boosted by Donald Trump's election victory, several Swiss crypto proponents proposed creating a national Bitcoin reserve. This would require the nation’s central bank to hold part of its reserves in BTC and gold. A referendum may potentially make Switzerland the first country to formally use Bitcoin as a reserve asset.
PostFinance's introduction of Ether staking demonstrates growing acceptance of cryptocurrencies within Switzerland's financial sector, which may lead to broader adoption and innovation.
