PostFinance, a Swiss state-owned bank, has introduced the launch of crypto staking for its clients.
On Jan. 16, PostFinance announced that it has expanded its crypto buying and selling and custody answer to incorporate staking. The bank will provide Ethereum (ETH) staking and plans to increase the service to different cryptocurrencies sooner or later.
PostFinance’s transfer positions it alongside different main banks providing crypto staking, permitting their clients to earn passive revenue from their ETH deposits. Clients will be capable of entry ETH staking through the bank’s e-finance and PostFinance App.
This growth comes almost a yr after the bank added help for crypto buying and selling and custody by means of a partnership with FINMA-regulated digital belongings platform Sygnum. PostFinance and Sygnum introduced their partnership in February 2024. Sygnum, in the meantime, affords crypto staking for for cash resembling ETH, XTZ, and ADA.
Commenting on the staking service, Dr. Alexander Thoma, head of digital belongings at PostFinance, mentioned:
“The “staking” service is predicated on “native staking”, which takes place instantly on the Ethereum blockchain and thus affords most transparency and safety”.
Notably, PostFinance has built-in the staking service with its present choices, enabling clients to view their accrued staking rewards alongside their crypto belongings.
In September 2024, Zurich Cantonal Bank, the fourth-largest bank in Switzerland, entered the crypto market by launching digital belongings buying and selling for its clients. ZKB launched Bitcoin and Ethereum buying and selling and custody, integrating these companies into its eBanking and cellular banking platforms.
The bank said it could provide the service in collaboration with Deutsche Börse Group subsidiary Crypto Finance AG.
