XRP and ADA achieve major milestone as they join PostFinance's cryptocurrency offerings in Switzerland
, one of the largest financial institutions in Switzerland, has announced that it now offers trading and custody services for several cryptocurrencies, including AVAX, Cardano , Polkadot, This development marks a significant milestone for these digital assets, particularly XRP and ADA, as they gain further recognition and accessibility, despite regulatory hurdles in the past.
Fun Fact: when I was at Ethereum, Postfinance was actually one of our first banking partners. They were always nice and easy to work with. Switzerland's regulatory environment for cryptocurrencies is relatively permissive, treating them as assets. The legal and regulated status of exchanging and custodying basic cryptocurrencies, such as Bitcoin, ensures compliance with anti-money laundering regulations.However, certain tokens, particularly utility ones, may be subject to stricter securities regulations, requiring specific licenses for activities, such as asset management or banking with crypto.
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