Swiss State Bank expands horizons: support for ETH and staking

Swiss State Bank expands horizons: support for ETH and staking

Swiss state-owned bank PostFinance AG has taken a significant step towards the digital future by offering its clients the option of Ethereum (ETH) staking. The move not only allows investors to earn passive income, but also confirms the melting pot of banks' interest in cryptocurrencies and digital assets.

In a recent statement, PostFinance announced that it plans to expand its staking offering to other cryptocurrencies in the near future. Staking, which is the process of allocating cryptoassets to support blockchain transactions in exchange for rewards, is becoming an increasingly popular method for investors to generate passive profits.

PostFinance, which became the first systemically important Swiss bank to offer staking services, began providing cryptocurrency trading and custody less than a year ago. The move clearly shows the bank's commitment to embracing digital assets, especially at a time when interest in cryptocurrencies is growing both in Switzerland and globally.

The expansion of services comes at a time when cryptocurrency prices are experiencing a sharp rise and global interest in digital assets is reawakening. This is partly due to the return of Donald Trump to politics in the United States, which has reopened the discussion of cryptocurrency-friendly policies.

In Switzerland, known for its progressive approach to blockchain and cryptocurrency innovation, new initiatives are also emerging. Recently, a group of Swiss cryptocurrency advocates proposed a national referendum that would require the Swiss National Bank (SNB) to hold bitcoin in its reserves alongside traditional assets such as dollars, euros and gold. This proposal has attracted considerable attention, but has run into significant obstacles as the SNB is sceptical about the adoption of cryptocurrencies at a national level.

With these new developments in the world of digital assets, Switzerland appears to be reasserting itself as a leader in cryptocurrency innovation, despite the challenges posed by regulation and public opinion.

*This is not an investment recommendation.

Coingarage team