Swiss bank PostFinance introduces Ethereum staking

PostFinance, a Swiss state-owned bank, has announced the launch of crypto staking for its customers. On Jan. 16, PostFinance announced that it has expanded its crypto trading and custody solution to include staking. The bank will offer Ethereum ( ETH ) staking and plans to extend the service to other cryptocurrencies in the future. PostFinance’s move positions it alongside other major banks offering crypto staking, allowing their customers to earn passive income from their ETH deposits. Customers will be able to access ETH staking via the bank’s e-finance and PostFinance App. Read more: Swiss AMINA Bank removes custody fees for USDC to woo stablecoin holders This development comes nearly a year after the bank added support for crypto trading and custody through a partnership with FINMA-regulated digital assets platform Sygnum. PostFinance and Sygnum announced their partnership in February 2024. Sygnum, meanwhile, offers crypto staking for for coins such as ETH, XTZ, and ADA. Commenting on the staking service, Dr. Alexander Thoma, head of digital assets at PostFinance, said: “The “staking” service is based on “native staking”, which takes place directly on the Ethereum blockchain and thus offers maximum transparency and security”. Notably, PostFinance has integrated the staking service with its existing offerings, enabling customers to view their accumulated staking rewards alongside their crypto assets. In September 2024, Zurich Cantonal Bank, the fourth-largest bank in Switzerland, entered the crypto market by launching digital assets trading for its customers. ZKB introduced Bitcoin and Ethereum trading and custody, integrating these services into its eBanking and mobile banking platforms. The bank said it would offer the service in collaboration with Deutsche Börse Group subsidiary Crypto Finance AG. You might also like: Crypto custodian Komainu secures $75m in Bitcoin-funded round led by Blockstream