PostFinance launches a crypto offering for 2.5 million customers, partnering with Sygnum Bank

PostFinance launches a crypto offering for 2.5 million customers, partnering with Sygnum Bank

Zurich, 20 February, 2024 – PostFinance, one of Switzerland’s leading financial institutions and largest retail banks, launches an innovative crypto offering tomorrow in partnership with Sygnum, a global digital asset banking group, to offer digital asset services via Sygnum’s B2B banking platform.

  • Sygnum Bank’s B2B banking platform enables the PostFinance launch and ongoing expansion of regulated, bank-grade digital asset products and services
  • With over 2.5 million customers, PostFinance is the first systemically important Swiss bank to launch regulated trading and custody for 11 cryptocurrencies such as Bitcoin and Ethereum
  • Sygnum’s B2B banking empowers over a quarter of the Swiss population and more than 15 partner banks and international financial institutions with cost-efficient, innovative, secure crypto products

PostFinance is launching a crypto offering to provide secure access to the crypto markets with attractive conditions for their 2.5 million customers, representing over CHF 100 billion in client assets and 1.3 billion payment transactions per year. The user friendly, transparent access to 11 cryptocurrencies is available from USD 50 for custody, trading and even crypto savings plans.

By leveraging Sygnum’s B2B banking platform, PostFinance has seamlessly integrated a crypto offering into its existing infrastructure. Customer benefits include access to trading and custody 24 hours a day and 7 days a week, a login from any PostFinance account online or in their app and secure access from a trusted Swiss banking partner.

Secure access to the crypto market

PostFinance joins over 15 other Swiss banks and international financial institutions on Sygnum’s B2B platform, which provides FINMA-regulated digital asset services seamlessly via an API from one trusted entry point. Sygnum helps them future-proof their offering by capturing a greater share-of-wallet from existing customers, enhancing their competitive position and launching new services at speed in the future, like staking. As a fully regulated digital asset specialist with a Swiss banking licence, Sygnum is one of the few banks in the world that can provide a secure bridge between traditional finance and digital assets.

This launch takes place following Sygnum’s fundraise of more than USD 40 million that includes lead investor and global asset management group Azimut Holding, and Sygnum’s strong 2023 financial and operational performance. Sygnum closed 2023 with an annualised revenue run rate of over USD 100m and achieved a positive cash flow in Q4.

Philipp Merkt, Chief Investment Officer of PostFinance Ltd, says, “Digital assets have become an integral part of the financial world, and our customers want access to this market from PostFinance, their trusted principal bank. A reputable and established partner like Sygnum Bank with an excellent service offering is more important than ever.”

Fritz Jost, Chief B2B Officer, Sygnum Bank, adds, “Sygnums’ B2B banking enables over 15 B2B partner banks to offer regulated digital asset services at scale and speed. Sygnum is pleased to empower PostFinance to deliver institutional-grade digital asset services to their customers. With this launch, PostFinance brings cryptocurrencies directly to their clients via the e-finance login or app, making crypto accessible in just a few clicks.”

ENDS

About PostFinance
With over CHF 100 billion in customer assets and 1.3 billion payment transactions per year, PostFinance is one of Switzerland’s leading financial institutions. Around 2.5 million customers trust PostFinance when it comes to their money. As a diversified, innovation-driven financial services provider, it offers its customers fresh solutions and smart innovations around money. In doing so, it relies on forward-looking tools and technologies that are developed or adapted specifically for the Swiss market. For more information: www.postfinance.ch/krypto.

About Sygnum
Sygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. We empower professional and institutional investors, banks, corporates and DLT foundations to invest in digital assets with complete trust. Our team enables this through our institutional-grade security, expert personal service and a portfolio of regulated digital asset banking, asset management, tokenization and B2B services.

In Switzerland, Sygnum holds a banking licence and has CMS and Major Payment Institution Licences in Singapore. The group is also regulated in the established global financial hubs of Abu Dhabi and Luxembourg.

We believe that the future has heritage. Our crypto-native team of banking, investment and digital asset technology professionals are building a trusted gateway between the traditional and digital asset economies that we call Future Finance. To learn more about how Sygnum’s mission and values are shaping this digital asset ecosystem, please visit www.sygnum.com.

Media Contact – Switzerland
Dom Castley
T +41 58 508 21 01, [email protected]
Sygnum Bank AG, Uetlibergstrasse 134a, 8045 Zurich, Switzerland

Media contact – PostFinance
Dörte Horn, Mediensprecherin, +41 78 202 23 21, [email protected]

Disclaimer: The information in this publication pertaining to Sygnum Bank AG (“Sygnum”) is for general information purposes only, as per date of publication, and should not be considered exhaustive. This publication does not consider the financial situation of any natural or legal person, nor does it provide any tax, legal or investment advice. This publication does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum to purchase or sell any assets. No elements of precontractual or contractual relationship are intended. While the information is believed to be from accurate and reliable sources, Sygnum makes no representation or warranties, expressed or implied, as to the accuracy of the information. Sygnum expressly disclaims any and all liability that may be based on such information, omissions, or errors thereof. Any statements contained in this publication attributed to a third party represent Sygnum‘s interpretation of the data, information and/or opinions provided by that third party either publicly or through a subscription service, and such use and interpretation have not been reviewed by the third party. Sygnum reserves the right to amend or replace the information, in part or entirely, at any time, and without any obligation to notify the recipient of such amendment / replacement or to provide the recipient with access to the information. Simultaneously, there is no obligation of Sygnum to inform recipients of information, if before provided information later becomes outdated, inaccurate or obsolete, unless otherwise provided by applicable law. The information provided is not intended for use by or distributed to any individual or legal entity in any jurisdiction or country where such distribution, publication or use would be contrary to the law or regulatory provisions or in which Sygnum does not hold the necessary registration, approval authorisation or license. Except as otherwise provided by Sygnum, it is not allowed to modify, copy, distribute or reproduce, display, license, or otherwise use any content for commercial purposes.

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The information in this publication pertaining to Sygnum Bank AG (“Sygnum”) is for general information purposes only, as per date of publication, and should not be considered exhaustive. This publication does not consider the financial situation of any natural or legal person, nor does it provide any tax, legal or investment advice. This publication does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum to purchase or sell any assets. No elements of precontractual or contractual relationship are intended. While the information is believed to be from accurate and reliable sources, Sygnum makes no representation or warranties, expressed or implied, as to the accuracy of the information. Sygnum expressly disclaims any and all liability that may be based on such information, omissions, or errors thereof. Any statements contained in this publication attributed to a third party represent Sygnum‘s interpretation of the data, information and/or opinions provided by that third party either publicly or through a subscription service, and such use and interpretation have not been reviewed by the third party. Sygnum reserves the right to amend or replace the information, in part or entirely, at any time, and without any obligation to notify the recipient of such amendment / replacement or to provide the recipient with access to the information. Simultaneously, there is no obligation of Sygnum to inform recipients of information, if before provided information later becomes outdated, inaccurate or obsolete, unless otherwise provided by applicable law. The information provided is not intended for use by or distributed to any individual or legal entity in any jurisdiction or country where such distribution, publication or use would be contrary to the law or regulatory provisions or in which Sygnum does not hold the necessary registration, approval authorization or license. Except as otherwise provided by Sygnum, it is not allowed to modify, copy, distribute or reproduce, display, license, or otherwise use any content for commercial purposes.

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