The post Swiss State-Owned PostFinance AG Launches Ethereum Staking appeared first on Coinpedia Fintech News
In a remarkable development, Switzerland state-owned bank, PostFinance AG, has officially launched Ethereum staking. Notably, the bank has introduced staking as a key part of its cryptocurrency expansion, according to a latest Bloomberg report.
Since the start of the new year, there has been a surge in pro-cryptocurrency moves, with major financial institutions getting involved. The latest to join this trend is a state-owned bank in Switzerland, adding to the growing list of institutions embracing changes in the industry ahead of 2025.
Crypto: A Legitimate Financial Option
Notably, Ethereum staking enables users to earn rewards by helping validate transactions on the blockchain. PostFinance, a state-owned bank, entering this space underscored the increasing trust in cryptocurrency as a legitimate financial option.
Staking involves individuals locking their Ethereum in a digital wallet to help support blockchain operations, with rewards given in return. By offering this service, PostFinance allows its customers to actively engage with crypto, putting their investments into practice.
According to a statement, the bank will introduce staking for other tokens in the “near future.” Specifically, the process of staking refers to pledging tokens to validate transactions on a specified blockchain to earn more tokens. The development follows after the bank launched crypto trading and custody services in 2024.
Officials Propose Bitcoin Reserve
PostFinance AG has remarked that it remains the first “systemically important bank to offer staking” highlighting growing enthusiasm for cryptocurrency in Switzerland. Besides, Swiss officials have introduced a proposal to direct its central bank to purchase and hold Bitcoin as a strategic reserve. The plan is expected to be a key part of Donald Trump’s return to office.
The crypto industry awaits significant changes in the digital asset sector after a monumental year in 2024. In just four days, US President-elect Donald Trump will begin his second term, who is expected to bring potential shifts to the nation’s regulatory standards as the first pro-crypto president in US history.