Postfinance sets its sights on cryptocurrencies

Postfinance is betting on cryptocurrencies: by 2024 it plans to offer its 2.6 million customers its very own offering in the field.

"Postfinance's management has identified digital assets as a strategic growth area and has decided to offer its clients a range of cryptocurrencies as soon as possible," a company spokeswoman told the Awp news agency yesterday, confirming information circulated by several specialized media based on an internal company document.

According to the press secretary, demand from customers is very high, the market continues to grow, and there are many interesting application possibilities around new technologies such as blockchain. However, in the absence of an offer from their own bank, many customers are now opting for foreign trading platforms. Given this situation, the Swiss Post-controlled institution will create a team to accelerate the development of a solution in this branch.

"The goal is to provide our customers with a standalone offering by the beginning of 2024 at the latest," the spokeswoman said, adding that discussions are underway with "several potential partners" who could support Postfinance in its efforts. The company already offers cryptocurrency trading with online bank Swissquote, through the Yuh application, jointly developed by the two entities