The fifth-largest financial services company in Switzerland, PostFinance, has teamed up with regulated digital asset services provider Sygnum Bank to give its users access to cryptocurrencies. With more crypto-tokens to be added later, the bank will first offer its 2.5 million customers access to buy, store, and sell popular cryptocurrencies including bitcoin (BTC) and ether (ETH). Retail banks in Switzerland are moving money into the digital asset class, which is why PostFinance decided to enter the market. A wide variety of cryptos will likely be made available, though this is not yet decided.
A Brazilian investment bank named BTG Pactual has announced the release of BTG Dol, its own stablecoin that is priced in US dollars. It will function on the Polygon blockchain and is Ethereum-compatible. Stablecoins are digital currencies that are linked to a reliable asset, like the US dollar, and are helpful for cryptocurrency traders who wish to make quick trades without using a traditional bank or fiat money. Stablecoins may pose a danger to the current financial system, thus regulators are closely monitoring them. The bank’s Mynt crypto-asset platform and investing system offer a secure and reliable transaction platform.