PostFinance Launches Ether Staking for 2.7M Customers: Details

PostFinance, Switzerland’s government-owned retail bank, has taken another significant step into the crypto space by introducing Ether staking for its 2.7 million customers. Announced in a Jan. 16 blog post, the service allows users to stake as little as 0.1 Ether—approximately $331—making it accessible to a wider audience. Traditionally, Ether staking requires a minimum of 32 Ether, a threshold many individual investors find prohibitive. PostFinance Making Ether Staking Accessible to Millions Alexander Thoma, head of digital assets at PostFinance, highlighted the seamless integration of this new service into the bank’s existing offerings. “The staking service is completely integrated into PostFinance’s existing services. Customers can view their staking rewards directly in their asset statement alongside other crypto holdings,” Thoma explained. The staking initiative, which locks Ether for a minimum term of 12 weeks, is based on native staking directly on the Ethereum blockchain. While Ether is the only supported token at launch, the bank has indicated plans to expand its staking services to other cryptocurrencies in the future. A Growing Trend in Traditional Banking PostFinance’s move reflects a broader trend of traditional financial institutions embracing cryptocurrency. Notably, in December, Anchorage Digital became the first U.S. federally chartered bank to support liquid Ether staking. The growing adoption of crypto staking services is in line with the Ethereum network’s increasing popularity, as evidenced by over 33 million Ether currently staked—an exponential rise from just 682,000 in December 2020, according to Beacon Chain data. Despite competition from liquid staking platforms like Lido Finance, which commands 28% of the Ether staking market, and Coinbase with 9.5%, PostFinance’s emphasis on simplicity and accessibility could carve out a significant niche for itself. Expanding Crypto Offerings Founded in 1906 as the financial services arm of Swiss Post, PostFinance has gradually strengthened its position in the digital asset landscape. In April 2023, the bank partnered with Sygnum to launch crypto trading and custody services, which went live in February. It has also dabbled in crypto collectibles, issuing digital stamps linked to physical counterparts as early as 2021. Notably, Sygnum bank achieved unicorn status with $58 million funding earlier in January. With approximately $136 billion under management, PostFinance’s foray into Ether staking underscores its commitment to innovation in financial services. The post PostFinance Launches Ether Staking for 2.7M Customers: Details appeared first on TheCoinrise.com .