Around a year after launching trading and custody of cryptocurrencies, PostFinance is expanding its offering to include the “staking” function. This means that passive income can now be generated by depositing cryptocurrencies. PostFinance is the first systemically important bank to offer this functionality.
In February 2024, PostFinance made the trading and custody of cryptocurrencies available to its customers in collaboration with FINMA-regulated Sygnum, a banking group for digital assets. The offer now also includes the “staking” functionality. The new staking option is initially available in e-finance and in the PostFinance app for the cryptocurrency Ethereum. The connection of other cryptocurrencies is planned in the near future.
Staking involves depositing cryptocurrencies for a certain period of time. While they are deposited, they contribute to the security and functioning of the respective blockchain. The direct benefit for customers is that they receive so-called “staking rewards”, regular cryptocurrency rewards, for depositing. By depositing the currency, crypto investors can therefore generate passive income.
Staking at PostFinance offers the highest level of transparency and security
PostFinance’s new staking offer is characterized by simplicity and security. Dr. Alexander Thoma, Head of Digital Assets at PostFinance: “The staking offer is based on native staking, which takes place directly on the Ethereum blockchain and thus offers the highest level of transparency and security.” PostFinance customers can participate in staking from as little as 0.1 ETH. Dr. Alexander Thoma highlights another advantage: “Staking is fully integrated into PostFinance’s existing services. Customers can therefore view their staking rewards directly in their asset statement, along with their other crypto assets.”
Source: PostFinance
