- Post finance to Launch Bitcoin Trading services on the ecosystem.
- Switzerland’s 5th largest financial bank Post finance ready to expand .
Post finance is Switzerland’s 5th largest financial bank offering a diverse range of services in the financial sector like banking, credit card lending loans, and many more. Post finance is a subsidiary of Swiss Post and was established in 1906 and headed by the Swiss government its working chief executive officer is Hansruedi Kong.
Post finance got its official licensing to operate like a bank openly in 2013 by Swiss Post. And the bank is planning to start bitcoin trading services for more than 2.5 million users.
Post finance will launch the trading services of Bitcoin, including buying, selling, and holding Bitcoins on their ecosystem, by the first quarter of 2024.
Post finance is adopting this shift toward the digital crypto market because of the changing financial market trend and many other beliefs that the declining user rate is forcing Post finance to adopt this new trend.
Adoption of Bitcoin trading by Swiss banks will enhance the uses of the Bitcoin coin, which may likely result in a hike in Bitcoin prices, and it is also an example for other firms.
The announcement of Bitcoin trading by Post finance came out when the crypto market was facing a downtrend and has faced huge losses in the last six months.
The Swiss Postal Banking sector will collaborate with more than five other finance sector companies like Fidelity, Goldman Sachs, JP Morgan, Julius Baer, LGT bank, and others.
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The Swiss bank is one of the most popular banks globally and has millions of active customers from all over the globe. The Swiss Banking ecosystem and its subsidiaries are ready to adopt Bitcoin trading services, including Buying, selling, and Storing Bitcoin in the account of their bank ecosystem till 2024. The expansion of financial services is a kind of encouragement for other firms, and it is also believed that in upcoming times the rise of Bitcoins and the crypto market in upcoming months.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.