Swiss bank expands crypto offerings with Ether staking

As Ether staking surpasses 33 million globally, PostFinance’s service is positioned to appeal to those seeking traditional banking options within the crypto space.

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Swiss government-owned bank PostFinance is now offering Ether staking to its 2.7 million customers, representing about a quarter of the country’s population. With a minimum requirement of just 0.1 Ether, the service is accessible to retail investors and integrates staking rewards into customers’ asset statements for a seamless experience. The 12-week fixed term allows users to sell credited rewards after maturity.

PostFinance’s foray into Ether staking marks another step in its expanding cryptocurrency services. In April 2023, it launched crypto trading and custody in partnership with Sygnum, following its earlier initiatives in crypto custody platforms and digital stamp collectables. The bank plans to add more cryptocurrencies to its staking programme in the future.

According to the Beacon Chain, this development comes as Ether grows, with over 33 million Ether staked globally. Liquid staking platforms like Lido Finance and Coinbase currently dominate the market, but PostFinance’s native Ethereum staking could appeal to those seeking traditional banking options in the crypto space.