117-year-old Swiss retail bank PostFinance taps crypto
The Swiss government-owned retail bank PostFinance partnered with Sygnum to offer its customers a range of regulated digital asset banking services.
Sygnum is a Zurich-based regulated digital asset bank supervised by the Swiss Financial Market Supervisory Authority (FINMA). PostFinance, on the other hand, is the fifth-largest retail financial institution in the country as of 2023, with over 2.5 million customers.
According to the official announcement, PostFinance customers will be able to buy, store, and sell leading cryptocurrencies such as Bitcoin and Ethereum via Sygnum’s B2B banking platform.
P2P marketplace Paxful announces operations closure
Ray Youssef, the Chief Executive Officer (CEO) and founder of peer-to-peer Bitcoin marketplace Paxful announced the sad closure of the platform. Although he did share the full story behind the closure, he cited key staff departures as well as regulatory challenges which have become the reality in the United States, as some factors that have influenced the suspension of the marketplace which delisted Ethereum (ETH) last year.
“Today, Paxful will be suspending its marketplace. We are not sure if it will come back. This will probably come as a big shock to many. While we work through these issues, we have taken the most secure option and ask you to explore self-custody and trade elsewhere.”
“My sole responsibility is to help and serve you. That’s why today I’m messaging all of our [Paxful] users to move your Bitcoin to self-custody. You should not keep your saving on Paxful, or any exchange, and only keep what you trade here,” he announced, adding that “you’re at the mercy of […] their morals.”
Michael Saylor’s MicroStrategy buys 1,045 more bitcoins for $29.3M
MicroStrategy bought an additional 1,045 BTC for a total of ~$29.3M in cash, at an average price of $28,016. This can be found in a SEC filing from last Wednesday.
That brings the Michael Saylor-founded company’s bitcoin holdings to around 140.000, worth $3.92B. The average purchase price of those holdings stood at $29,803 as of Tuesday.
The news comes just days after the software company said it acquired more than 6,000 bitcoins since mid-February and raised over $300M from the sale of its shares.
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