Swiss public bank Postfinance launches the app to support 13 cryptocurrencies

Postfinance, the banking subsidiary of the Swiss national postal service, has launched a mobile app that allows customers to access cryptocurrencies, ETFs, and more. The software allows users to pay, save money or invest in a variety of assets, with a level of security commitment provided only by the nation's leading online banks. La Banque de la Poste offers its clients access to crypto assets and stocks. The new Yuh app is the result of a collaboration between Postfinance and the online trading platform Swissquote. The bank said in a press release that the partnership took place late last year and the software was announced at a virtual launch event on May 11th. Anyone who wants to test can download and install the app on an iOS or Android device. Postfinance insists: With the Yuh app, not only can you pay from your smartphone and save for future projects or purposes, but you can also make small or large investments. Users can invest in more than 100 of the most popular stocks, such as Apple, Nike, Tesla or Coca-Cola, as well as exchange-traded funds (ETFs). The two financial companies also announced that their customers can buy and sell 13 cryptocurrencies from the app, including Bitcoin (BTC) and Ethereum (ETH). “With Yuh, we put everyone's finances in the palm of their hands. Everyone should be free to decide when, where and how to use their money, ”says Markus Schwab, CEO of Yuh. The platform was launched with a commitment to maintain a "low or zero fee" and "always full transparency" regarding applicable fees. For example, payments and money transfers between individuals are free. However, there is a 0.5% fee for buying or selling stocks, and crypto assets. The costs of these transactions are clearly displayed in the application. In addition, Yuh account holders who have deposited 500 Swiss Francs or more will receive 500 swissqoin, the app's cryptocurrency.

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