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PostFinance Expands Cryptocurrency Services to Include XRP, Solana, Cardano, Polkadot, and Avalanche

PostFinance Expands Cryptocurrency Services to Include XRP, Solana, Cardano, Polkadot, and Avalanche
PostFinance Expands Cryptocurrency Services to Include XRP, Solana, Cardano, Polkadot, and Avalanche

PostFinance, a Swiss government-owned bank, has expanded its cryptocurrency services beyond Bitcoin and Ethereum to include additional digital assets. The bank now offers trading and custody services for XRP, Solana (SOL), Cardano (ADA), Polkadot (DOT), and Avalanche (AVAX). This move aligns with PostFinance’s strategy to deepen its engagement with digital assets and reflects the bank’s commitment to embracing the growing cryptocurrency market.

The inclusion of these new cryptocurrencies highlights PostFinance’s efforts to stay at the forefront of blockchain innovation. Data from Santiment shows that Solana, Cardano, and Polkadot have significant development activity, surpassing even Ethereum in GitHub submissions.

These blockchains are noted for their innovative growth and strong communities, which likely influenced PostFinance’s decision to incorporate them into its offerings.

Charles Hoskinson, founder of Cardano and a co-founder of Ethereum, commented on PostFinance’s expansion, recalling the bank’s early support for Ethereum.

PostFinance Expands Cryptocurrency Services to Include XRP, Solana, Cardano, Polkadot, and Avalanche

PostFinance Expands Cryptocurrency Services to Include XRP, Solana, Cardano, Polkadot, and Avalanche

Hoskinson’s endorsement underscores PostFinance’s longstanding involvement in the crypto space and its progressive approach to digital assets. The bank’s collaboration with Ethereum during its early days exemplifies its forward-thinking and supportive stance toward blockchain technology.

PostFinance has been progressively integrating cryptocurrencies into its services. In April 2023, the bank partnered with Sygnum Bank to offer regulated crypto services, enabling customers to buy, sell, trade, and store Bitcoin and Ethereum through Sygnum’s B2B platform.

Additionally, PostFinance launched the Yuh mobile app in collaboration with Swissquote in 2021, providing customers with access to various digital assets, ETFs, and major stocks, enhancing its digital asset offerings.

Switzerland has positioned itself as a crypto-friendly nation, with initiatives like “Crypto Valley” in Zug promoting blockchain innovation. PostFinance, the fifth-largest financial services company in Switzerland, has embraced this trend by integrating digital assets into its traditional banking services.

This integration not only broadens the bank’s cryptocurrency offerings but also enhances the overall accessibility and appeal of crypto services to its 2.5 million customers. As more financial institutions in Switzerland and globally adopt crypto services, the country is poised to become a significant hub in the digital asset ecosystem.

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