PostFinance, a Swiss state-owned bank, has announced the launch of Ethereum (ETH) staking for its customers, enabling it to extend its crypto offerings. Today, the bank announced that it is joining the cryptocurrency staking bandwagon, allowing clients to earn stable income in the form of ETH interest.
Its new crypto staking service is available on both PostFinance e-finance platform and PostFinance App, said PostFinance. The bank will launch staking on Ethereum initially before eventually expanding its service to other cryptocurrencies.
Dr. Alexander Thoma Comments on PostFinance Staking
It comes following PostFinance’s February 2024 announcement partnering with the FINMA-regulated digital asset platform Sygnum. Now the bank has already started offering crypto trading and holding solutions to its customers, allowing them to safely store their crypto holdings. The PostFinance’s new staking offering, which will also stake Ethereum (ETH), Tezos (XTZ), and Cardano (ADA), will be built on top of Sygnum’s infrastructure.
Commenting on the staking service, Dr. Alexander Thoma, head of digital assets at PostFinance, said:
“The “staking” service is based on “native staking”, which takes place directly on the Ethereum blockchain and thus offers maximum transparency and security”.
Merchants digital assets trading service is days after Zurich Cantonal Bank (ZKB), Switzerland’s fourth largest bank, began offering its own digital assets trading service. In September 2024, ZKB announced the introduction of Bitcoin and Ethereum as tradable assets delivered by Crypto Finance AG, a subsidiary of Deutsche Börse AG Group.
In a further confirmation of Switzerland as a crypto innovation hub, traditional banks are increasingly embracing blockchain-based services to meet growing demand for crypto products as PostFinance’s Ethereum staking service.
