Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
The Swiss Post, through its banking arm, will offer cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. trading and custody services by 2024.
- Swiss post office to offer crypto services
- It will do so through its banking arm, PostFinance
- He thinks it’s the ideal time to enter the crypto market.
Post offices are no longer providing the traditional service of past decades, as new communication channels have led them to reinvent themselves. Now, Switzerland’s post office, through its banking arm, PostFinance has announced plans to expand its entry into cryptocurrencies by launching a trading and custody product following increased user demand.
This is how he portrayed it in Twitter the renowned crypto userBitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. Archive:
Only in Switzerland. The Post Office will offer Bitcoin trading and custody custody is a financial institution's legal capacity to keep and preserve financial assets for its clients to avoid asset theft or loss. services by 2024.
????JUST IN: ????????Swiss Post Office to offer #Bitcoin trading and custody services by 2024! ????
— Bitcoin Archive ???????????? (@BTC_Archive) July 11, 2022
The service, which would be available in 2024, will be independent of the bank’s other cryptocurrency products PostFinance . According to the entity, there is a need to venture into cryptocurrencies despite the current low prices.
“Our clients want direct access to this market an area or arena, online or offline, in which commercial dealings are conducted. through their own bank. Given the increasing institutionalization of cryptocurrencies over the last 18 months, this is the ideal time to enter the market. “said Sandra Lienhart, director of retail banking at PostFinance.
The new service will primarily include cryptocurrency trading and custody, with talks underway to bring in other external partners.
PostFinance is now in crypto
It is worth noting that the bank PostFinance currently offers crypto exposure to customers through its digital application Yuh. The application supported, when starting services, 13 cryptocurrencies including Bitcoin, allowing customers to make payments, save funds or invest investing is when you put money in a financial scheme with the intent of making a gain. in various assets. It is based on a partnership with the bank Swissquote but now seems to want to do it independently of that bank.
Also, the media recalls that the post office had already dabbled in other issues related to the crypto ecosystem. For example, the postal service also introduced the world’s first cryptocurrency postage stamp in order to “bridge the gap between the physical world of stamps and the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. crypto-universe.”
It is worth remembering that other European countries have used the postal service for the sale of cryptocurrencies. This is the case of Liechtenstein which in February 2019 confirmed that it would be offering sale of Bitcoin (BTC) as part of its product range.
Switzerland is a country with quite a bit a bit is a basic unit of information in computing. of crypto adoption. In fact, in March of this year, the city of Lugano announced that it would make a Bitcoin y Tether legal tender in that city. Also, several banks have opened crypto services in the country. This is the case from BBVA in June 2021 y Swissquote he said at the end of last year that in 2022 it would launch its own crypto exchange. Likewise, in September 2021, the Swiss bank will SEBA received the first license as a crypto custodian a custodian is responsible for safely holding assets for an institution or individual for a variety of purposes. .
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