Swiss bank PostFinance launches Ethereum staking for $700M growth

PostFinance AG, a Swiss government-owned investment bank, has announced the launch of Ethereum (CRYPTO:ETH) staking services, allowing users to earn passive income through cryptocurrency deposits.  

This initiative marks a significant expansion of the bank's crypto offerings, which began in 2024 with trading and custody services.  

The move reflects a growing pro-crypto sentiment in Switzerland and aims to capitalise on recent market trends.  

“We’re expanding our crypto service and introducing staking. This will allow our customers to generate passive income by depositing cryptocurrencies,” the bank stated via social media.  

Ethereum was chosen as the first asset for staking due to its increasing popularity; by February 2024, staked ETH represented 25% of the total token supply.  

Despite a decline in staking rewards towards the end of 2024, Ethereum remains an attractive option for investors.  

Switzerland has long positioned itself as a crypto-friendly nation, with initiatives like “Crypto Valley” in Zug aimed at fostering investment in the sector.  

Recently, there have also been discussions about establishing strategic Bitcoin reserves within the Swiss government, with decisions expected by mid-2025.  

PostFinance is positioning itself as a pioneer in this space, claiming to be “the first systemically important bank to offer crypto staking.”  

The bank plans to expand its staking services to include additional crypto assets in the near future.  

The optimism surrounding this initiative is bolstered by favorable regulatory conditions and market momentum following significant political events in the United States.  

As PostFinance continues to deepen its engagement with the cryptocurrency sector, this new Ethereum staking program signals a strong commitment to embracing digital assets and enhancing customer offerings.  

The move is seen as part of a broader strategy by both PostFinance and the Swiss government to leverage the growing interest in cryptocurrencies.

At the time of reporting, the Ethereum (ETH) price was $3,302.05.