PostFinance Is Revolutionising Traditional Banking with Crypto

In the dynamic arena of financial matters, blockchain-based cryptocurrency has ignited a change towards digital finances. Blockchain is key to Decentralised Finance (DeFi) and its top-notch solutions, including cryptocurrencies, Non-Fungible Tokens (NFTs), metaverse, and so on. 

DeFi offers multiple benefits over conventional financial systems, such as banks and fiat currency. One of those perks is the lack of central authorities’ intervention in crypto transactions. However, it also poses a threat to crypto users as crypto miners and developers can impose phishing scams, Ponzi schemes, wallet-draining hacks and many others. 

In this regard, global authorities consider timely regulations in the crypto space. Bitcoin Exchange-Traded Funds (ETFs) have paved the way for secure and matchless financial instruments for investors and traders. In addition, conventional banks look forward to harmonising with digital currency to stay in the financial game. PostFinance is a leading Swiss bank that has announced taking part in crypto. 

Related: Tether Cryptocurrency Emerges as ‘Go-To’ Option for Money Launderers and Scammers, Raises Concerns

PostFinance – Swiss Banking Giant

Managing your finances is onerous, especially if you lack access to the right platform for money matters. It is when PostFinance comes into play with its top-notch and simplified services in Switzerland and several other countries. Topping the chart of the top banks in Switzerland, it is a reliable financial partner for smarter and innovative money solutions. 

In the conventional banking sector, PostFinance holds a distinguished position for retailers and institutional investors to take care of their money matters smartly. Since the digital transformation took over the traditional means of work, it pushed its boundaries to offer its first digital banking services in 2021 by launching its debut banking app. 

Moreover, it is committed to contributing its best in various societal sectors, including sports, culture, education, and the Swiss economy. In the education landscape, it introduced the MoneyFit platform that supports education and literacy for children, helping the Swiss economy by enabling the youth to become skilful and lucrative individuals in society. 

PostFinance to Join the Crypto Market

DeFi is a futuristic innovation in the financial area with other solutions, such as Financial Technology (FinTech), eSports, and so on, and it is also on a growing trajectory. The future belongs to those who never turn their back on innovations and upgrade their working style. 

Among different crypto and tech trends, Central Bank Digital Currencies (CBDCs) are an essential addition. CBDC is filling up the gap between conventional banking systems and digital currency. Though it is still under development, the eNaira of Nigeria is one of the most developed retail CBDCs globally, according to Statista. 

Given the latest trends, PostFinance announced its debut in the crypto market by launching crypto services. With over 2.5 million customers, rolling out crypto features into their digital banking services will allow them to trade and invest in the crypto market without moving out to another platform, such as Coinbase, Binance, or any other crypto exchange. In other words, they can enjoy crypto trading opportunities in their bank accounts. 

Read Also: Hana Bank Explores CBDCs and Stablecoins: Embracing Innovation

Benefits to PostFinance Customers

Integrating crypto trading and exchanging in their digital banking services, PostFinance will not only become the first conventional bank to do so but also help others go on an established pathway for fiscal glory. It also has a positive impact on the Swiss economy and its millions of customers. 

Switzerland is popular for its stringent regulations in the domain of money and digital assets. PostFinance will need to play fair to stay in the league, or it will expose its banking services to restrictions and challenges. Therefore, customers will have a secure and trustworthy platform within their existing banking platform for crypto trades and investments. 

It paves the way for seamless crypto trading and enhanced accessibility since the need for third-party service providers is eliminated in this process. By offering both fiat currency and crypto features in its app, PostFinance improves its user experience and digital asset management. 

DeFi in the Financial Market

The democratisation of financial services has always been an issue with the conventional banking sector due to its centralisation. DeFi democratises money matters with innovation, transparency, and cost-effective money operations. With an effective internet connection, anyone, regardless of their location and geography, can access opportunities that promise profitable gains. 

In traditional banks, intermediaries play a crucial role in deciding access to financial services. DeFi platforms cut third parties through decentralisation, allowing anyone to lend, borrow, trade, and invest seamlessly. Click here to learn about crypto lending. 

Moreover, the basis of DeFi platforms on the blockchain provides customers with interoperability that allows them to make transactions or access their digital assets without relying on a single platform and location. Therefore, DeFi is an innovative and smart solution that has an irrevocable impact on global financial institutions. 

Regulatory Concerns with Cryptocurrency

Operating in the financial market demands any organisation and institution to comply with and obey certain rules and regulations. Anti-Money Laundering (AML) and Know Your Customers (KYC) are essential regulatory steps that every corporation must consider before functioning in the market. 

Abiding by these regulatory steps in a business operation allows it to offer seamless and risk-free functionality. With the rise in digital acceptance, cyber threats have become common and widespread. Therefore, PostFinance, like any other bank or organisation, needs to introduce security measures to safeguard its customers against hacks and scams. 

PostFinance Will Revolutionise Swiss Crypto Market

@marktilbury BITCOIN VS BANKS 😈 #learnontiktok #bitcoin #bank #crypto #invest ♬ original sound – Mark Tilbury – Millionaire

The Swiss market is one of the most modern and advanced economies globally. Swiss enterprises and banks push any limitation in their way to contribute smart solutions to their economy, aiming to strengthen it further. PostFinance joining the crypto landscape paves the way for Switzerland’s excellence in the crypto market. 

The best thing about its crypto services is the built-in availability of its digital banking services that bridge fiat currency and crypto in one place. Therefore, it promises convenience and enhanced accessibility to its customers without compromising on safety. Its crypto services will simplify managing your crypto holdings.