Switzerland’s Post Office is reportedly gearing towards integrating crypto trading via its banking division PostFinance, as users’ taste for custody is witnessing a rise locally.

Specifically, approximately 2.7 million users banking with PostFinance – ranking 5th in the list of most major banks nationwide currently – are reportedly expected to tap into the purchasing and selling features of Bitcoin and other virtual coins, via an in-house trading and custody service in the next two years.

PostFinance spokesperson Dörte Horn reportedly shared confirmation that the executive board views digital assets as a strategic development aspect, and will offer direct access to cryptocurrency markets via a proprietary service in the possession of PostFinance, latest by 2024.

It’s the most recent effort from the entity to support its clients with the functionality of accessing crypto. Last year, PostFinance teamed up with online trading platform Swissquote to build the Yuh mobile application – offering a route for users to enter the scenes of traditional shares and stock markets, together with more than 25 cryptocurrencies.

Horn further revealed that the joint collaboration between the two companies would be maintained, but an adjustment to target a new customer segment by Yuh means that it functions independently from PostFinance’s retail venture. 

This is among the driving factors which led to PostFinance’s decision to build an independent offering.

Although users that share an enthusiasm for technology users are satisfied with using Yuh as a third-party service provider to tap into cryptocurrency markets in the nation, PostFinance is working towards the goal of offering customers access to these markets in a direct manner.

“Demand from PostFinance customers is very high and the market continues to grow with many exciting options related to the DLT or blockchain technology. Many customers choose to go to foreign exchange to trade cryptocurrencies because their own bank does not have its own service range.”