State-Owned Swiss Bank Postfinance Launches App Supporting 13 Cryptocurrencies

[troubled soul]

https://www.yuh.com/en

 

[Sols]

It's a joint venture between Postfinance and Swissquote. You can log in with your Swissquote‌ or Postfinance account if you have one.

https://www.postfinance.ch/en/about...leases/postfinance-swissquote-launch-yuh.html

 

[troubled soul]

Hey @Sols ,
What is your advice about,
Maximum amount One should have use for this service.‍
Like I have $5 million in Crypto and want to convert into fiat and invest⁠ in the stock market. Is it ok to use this service for a higher amount⁤ of crypto to fiat operation?
Maximum amount ??
What is your opinion?

Sorry in Advance⁣ for my English. Hope you get my point?

Thanks

 

[Sols]

They just launched it this week, so it's really difficult to comment on. It's backed‌ by two licensed banks, one of which is state-owned, though, so they are probably financially‍ solid.

Is it even possible to use it as an exchange? Looks to be more⁠ like an investment where you don't hold the coins directly, but I could be wrong.⁤

 

[lacomaco]

Th
They are both big enough for your crypto/investments to be in a safe⁣ institution

 

[manukahoney]

Frankly, looks like a revolut/robinhood-like app with a clear focus on younger customers.
So not‌ sure about your plan to onboard 5mil there.
Please, keep us updated if you decide‍ to use them.

 

[Hegemon]

Talk to some lawyer in Switzerland, he'll help you prepare your documentation and accepted⁢ by a bank.
Don't go talk to them yourself if you don't know what you're︀ doing, you might burn a few bridges by improper presentation.

They just need to see︁ you comply with KYC regulations, a lawyer helps with sorting it out.

 

[troubled soul]

Thanks for your input