Swiss bank PostFinance pioneers digital-asset staking for Ether

Swiss financial services company PostFinance AG is now offering staking services on its platform for cryptocurrency Ether. The state-owned bank plans to include staking for other cryptocurrencies soon to help its investors get passive income.

The service is available to Ethereum holders on e-finance and its PostFinance application.

Swiss PostFinance introduced crypto trading only last year

In February 2024, the Swiss Post’s financial subsidiary introduced its crypto trading and custody service. At the time, PostFinance claimed it was the first systematically important bank in the country to bring crypto directly to its customers. It also guaranteed clients could trade with about 11 crypto tokens and perhaps even start a crypto saving plan. 

PostFinance offers 24/7 trading services on e-finance and its dedicated app. The Swiss lender insisted it wanted to promote user-friendliness, foster transparency, and offer attractive user conditions. 

In June, the company was presented with the Swiss Crypto Award 2024. Now, the company has introduced staking on its platform. It has only rolled out the service for Ethereum holders, promising to include other crypto tokens in the “near future.” 

PostFinance claims it’s the first systemically important bank to allow staking in Switzerland.

Alexander Thoma, Head of Digital Assets at PostFinance, remarked:

The staking is fully integrated into Postfinance’s existing services, allowing customers to view their staking rewards directly in their portfolio statements alongside their other crypto holdings.

– Alexander Thoma

Switzerland is still considering Bitcoin as a reserve asset

The PostFinance staking offering comes at a time when Switzerland is seeing renewed hype in digital assets, primarily contributed by Donald Trump’s election win.

Moreover, several Swiss crypto supporters tabled a proposal to introduce a national Bitcoin reserve. That would require the nation’s central bank to have part of its reserves in BTC and gold.

A public referendum could soon make Switzerland the first nation to hold Bitcoin formally as a reserve asset. The Swiss “Bitcoin Initiative” only has to acquire 100,000 signatures in the next 18 months to be put to a public referendum.

From Zero to Web3 Pro: Your 90-Day Career Launch Plan