- PostFinance, a Swiss government-owned bank, has expanded its crypto services by adding ADA, AVAX, SOL, XRP, and DOT to its trading and custody options.
- This move comes at a time of increased speculation surrounding AVAX and XRP ETFs.
With traditional financial institutions embracing crypto, PostFinance has taken a significant step in expanding its crypto offerings.
Recent reports confirm that PostFinance now offers custody services for several altcoins, including Cardano (ADA), Ripple (XRP), Avalanche (AVAX), Solana (SOL), and Polkadot (DOT).
PostFinance announced the news on their official X page, stating,
“We now also offer the Avalanche, Cardano, Polkadot, Ripple, and Solana cryptocurrencies for trading and custody.”
This development marks a milestone in integrating crypto into traditional financial markets.
What began last year with the adoption of Bitcoin (BTC) and Ethereum (ETH) through Sygnum has now expanded to include other altcoins.
Through partnerships with Sygnum, traders can now transact with BTC and ETH, and with the recent additions, the range of options has increased to include more altcoins.
Traditional financial systems and institutional investors are eyeing possible ETF approvals for altcoins like AVAX and XRP.
If approved, ETFs would provide traditional finance with access to institutional investments in these altcoins.
Rumors Surrounding XRP and AVAX ETFs
Following the approval of BTC ETFs earlier this year and ETH last month, there has been a growing interest in obtaining ETFs for other altcoins.
The approval of BTC ETFs resulted in a price surge, and amidst current market volatility, BTC is still poised to reach $100k by year-end.
This has led to calls for ETF approvals for other altcoins, with ETH receiving approval last month, while a SOL ETF is currently under review.
Source: X
Rumors surrounding XRP ETFs have persisted, with the XRP president expressing that it would make sense in an interview shared on X by Altcoin Daily.
Similarly, speculation around an AVAX ETF has generated excitement, with analysts discussing the potential benefits of such an approval.
According to Jan Kimbo, AVAX could see significant growth if an ETF is approved, stating,
“$AVAX will do 100-500x, but you won’t believe me until we are there and say.”
Therefore, an ETF approval would not only benefit investors but also solidify PostFinance’s position as a crypto adoption leader.
By catering to investor interests and adding altcoins like AVAX, XRP, DOT, SOL, and ADA, which have substantial GitHub submissions, PostFinance is ensuring its leadership in cryptocurrency adoption.