- Switzerland’s state-owned PostFinance AG launches Ethereum staking, a first for systemically important banks.
- PostFinance cites Switzerland’s crypto-friendly stance and Trump’s policies as key to its Ethereum staking launch.
- PostFinance’s staking services highlight growing crypto acceptance in traditional banking, potentially encouraging other institutions.
PostFinance AG, Switzerland’s state-owned bank, has launched Ethereum staking services.The systemically important bank announced Thursday it will allow customers to earn passive income through Ethereum staking, with plans to expand to other tokens soon. The bank’s move into staking comes less than a year after it began offering crypto trading and custody services. PostFinance claims the distinction of being the first systemically important bank to offer crypto staking services, setting a precedent for traditional financial institutions.
Switzerland’s broader crypto-friendly environment provides context for PostFinance’s expansion. The country’s “Crypto Valley” in Zug has established itself as a hub for blockchain innovation. The recent proposals even suggest adding Bitcoin to the Swiss National Bank’s reserves alongside traditional assets like gold, dollars, and euros.
The timing of PostFinance’s announcement aligns with rising enthusiasm for digital assets, driven by both domestic and international factors. The bank specifically cited Switzerland’s welcoming regulatory stance and the anticipated crypto-friendly policies of President-elect Donald Trump’s administration as key factors influencing their decision.
Related: https://cryptotale.org/altcoins-with-500m-market-cap-sees-rise-in-whale-activity/
Ethereum serves as a logical starting point for PostFinance’s staking program. This is given the network’s established position and growing stake participation. By February last year, staked ETH reached 25% of total supply, demonstrating strong market adoption despite yield variations throughout 2024.
PostFinance’s quick progression from basic crypto services to staking within a year shows the accelerating pace of institutional crypto adoption. The bank’s public statements emphasize plans for comprehensive expansion of crypto services, suggesting staking offerings will extend beyond Ethereum to other digital assets in the near future.
This development carries particular significance given PostFinance’s status as a government-owned institution. The move signals growing acceptance of cryptocurrency services within traditional banking frameworks and could encourage other established financial institutions to explore similar offerings.
The initiative arrives amid broader discussions about Switzerland’s role in the global crypto economy, including a proposed national referendum on Bitcoin reserves. While the Swiss National Bank maintains some skepticism toward crypto assets, PostFinance’s expansion suggests growing institutional confidence in digital asset services.
