PostFinance Ethereum Staking Is Now Available To Users

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Key Points:

PostFinance Ethereum staking enables customers to earn passive income with plans to expand staking to other tokens soon.
PostFinance, regulated by FINMA and serving over 2.5 million customers, is the first systemically important Swiss bank to offer staking.

According to Bloomberg, Swiss state-owned bank PostFinance AG has enlarged its digital asset services to offer staking for Ethereum, the world’s second-largest cryptocurrency.

PostFinance Ethereum Staking Service Expanded to Users

The new PostFinance Ethereum staking service enables token holders to generate passive income through the process of pledging their assets for blockchain transaction validation.

PostFinance said in a statement on Thursday that staking was expected to be gradually extended to more tokens. The move furthers the bank’s cryptocurrency services, which began with trading and custody solutions almost a year ago.

PostFinance is a bank under the supervision of the Swiss Financial Market Supervisory Authority, FINMA. The move made the lender the first systemically important bank in Switzerland to offer staking. It is one of the major players in the Swiss banking market, with more than 2.5 million customers, and is licensed under Switzerland’s Banking Act.

Proposal Calls for Bitcoin in Swiss National Reserves

The announcement of the PostFinance Ethereum staking service comes at a time when digital assets are attracting more interest in Switzerland, thanks to the growing prices of cryptocurrencies and their increasing use worldwide.

Switzerland, already leading in crypto-friendly regulations, continues to seal its position as a centre of blockchain innovation.

A group of Swiss crypto-enthusiasts has launched a national referendum to compel the Swiss National Bank to store Bitcoin in its vaults alongside more traditional reserves such as the euro, dollar, and gold. The proposal, though gaining some attention, is likely to face serious opposition since the central bank is still cool on cryptocurrencies.

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