PostFinance, a government-owned retail bank in Switzerland known for its support of cryptocurrency, is launching Ether staking for its customer base of 2.7 million individuals, which represents approximately one-quarter of the Swiss population. The bank’s announcement details that clients can invest in Ether (ETH) with a minimum commitment period of twelve weeks, also allowing the sale of credited staking rewards.
This move comes amid a broader trend of traditional banks beginning to engage with cryptocurrency services. Notably, Anchorage Digital recently made headlines as the first federally chartered bank in the United States to endorse liquid Ether staking.
While it is common for staking to require a minimum of 32 Ether — valued at around $106,000 — PostFinance is changing the landscape by permitting staking with just 0.1 Ether, which is approximately $331. The staking will rely on Ethereum ’s native staking system, ensuring seamless integration into existing PostFinance offerings. Customers will be able to view their staking rewards alongside their other crypto assets in their account statements.
Currently, Ether is the only cryptocurrency supported for staking by PostFinance, but the bank has indicated intentions to expand its offerings to include additional cryptocurrencies in the future. A significant surge in Ether staking has been observed, with over 33 million Ether staked today, compared to just 682,000 in late 2020.
PostFinance, established in 1906, serves as the financial division of Swiss Post and manages approximately $136 billion in assets. This latest venture is a continuation of the bank’s exploration into the cryptocurrency realm, having previously initiated services for crypto trading and custody in partnership with Sygnum and launching a crypto custody platform. Their earlier offerings included digital collectibles tied to physical stamps, further showcasing their commitment to innovation in the financial services space.
