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- PostFinance broadens its crypto offerings with XRP, leveraging Sygnum’s B2B platform.
- Dubai’s approval for international transfers aided in Ripple’s global expansion.
PostFinance, a Swiss government-owned bank, has expanded its cryptocurrency offering by integrating Ripple’s XRP into its trading platform. Reflecting its will to remain on top of digital asset trading, this growth reflects over a year since the bank first entered the crypto market.
🚀 We now also offer the Avalanche, Cardano, Polkadot, Ripple and Solana #cryptocurrencies for trading and custody. #thinkcrypto
— PostFinance (@PostFinance) July 1, 2024
Initial Foray into Crypto
Through a strategic alliance with Swiss financial institution Sygnum Bank and Hong Kong history, the government-owned company entered the digital asset trading market in August 2023.
By using Sygnum’s business-to-business (B2B) banking infrastructure, this partnership allowed PostFinance to leverage the digital asset trading capabilities available to retailers at a very low cost.
At first, PostFinance’s crypto products included only in big cryptocurrencies such Ethereum (ETH) and Bitcoin (BTC). But in February, the bank added eleven more cryptocurrencies to its portfolio, therefore enabling consumers to buy a wider spectrum of digital assets.
PostFinance has said that it is extending its crypto offers by including five additional digital assets, therefore widening their range. Cardano (ADA), Polkadot (DOT), Avalanche (AVAX), Solana (SOL), and XRP of Ripple are the recently included altcoins.
Ripple Progress and Market Performance
The business behind XRP, Ripple, has just made major progress. A prior CNF report highlighted that Ripple got permission for worldwide transactions in Dubai, a vital phase of its aspirations for global expansion. With this permission, Ripple’s worldwide presence should grow, and its market position should become more robust.
Meanwhile, data from CoinMarketCap shows that XRP’s price at the time of writing is at $0.4849, a 0.61% increase over the last 24 hours and a bullish trend of 2.14% over the past seven days.
