2024-07-03 23:48:14
- PostFinance, the Swiss state bank, has added ADA, AVAX, SOL, XRP and DOT to its trading and custody options.
- The move came amid increased speculation on the AVAX and XRP ETFs.
Amid the widespread adoption of cryptocurrencies by traditional financial institutions, PostFinance, a bank owned by the Swiss government, has expanded its cryptocurrency services.
According to the latest reports, Postfinance has added custody options for multiple altcoins, including Cardano [ADA], Then [XRP], avalanche [AVAX], Solan [SOL]y moles [DOT].
Through his official X page (formerly Twitter), PostFinanzas shared the news, saying,
“We now offer Avalanche, Cardano, Polkadot, Ripple and Solana cryptocurrencies for trading and custody.”
PostFinance’s recent move is a major milestone as it expands the use of cryptocurrencies within traditional financial markets.
It was the initiative that started last year after accepting Bitcoin [BTC] y Ethereum [ETH] Through Sygnum it is now expanding to other smaller altcoins.
Through partnerships with Sygnum, merchants can use BTC and ETH in their transaction; With the recent additions, the group is now larger, considering the increased use of altcoins.
Traditional financial systems and other institutional investors, such as banks, are betting on potential ETF approvals for altcoins such as AVAX and XRP.
With an ETF, traditional finance will have access to institutional investments in those altcoins.
Rumors of XRP and AVAX ETF
Since the approval of BTC ETFs earlier this year and ETH last month, some cryptocurrency stakeholders have expressed their desire to pursue ETFs for other altcoins.
The approval of BTC caused its prices to rise to its ATH, and yet, with the current volatility of cryptocurrencies, it is still capable of reaching $100,000 by the end of the year.
These possibilities created the need for other altcoins to approve their ETFs, with ETH approved last month, and the SOL ETF under review.
Source: X
Likewise, there have been persistent rumors about XRP ETFs. In an interview shared on X with Altcoin daily XRP president said,
“It would make a lot of sense.”
Likewise, speculation about the AVAX ETF has stirred the market, with some analysts sharing the potential benefits of such an approval.
According to Jan Kimbo AVAX would get 100x more if ETF is approved. He shared that,
“$AVAX will increase by 100 and 500, but you won’t believe me until we tell you.”
File Of Cardano [ADA] Price forecast 2024-2025
Therefore, a potential ETF approval would serve the interests of investors and ensure that PostFinance remains a leader in cryptocurrency adoption.
In this way, by addressing the interests of investors by adding altcoins with significant submissions to GitHub, such as AVAX, XRP, DOT, SOL and ADA, Postfinance ensures that it remains a leader in cryptocurrency adoption.
This is an automatic translation of our English version.
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