The Swiss «crypto» bank won a key license to sell funds in Singapore. It is hiring a well-connected adviser to the city-state's sovereign wealth fund for its expansion.
Sygnum won a capital markets services from Singapore's central bank, the Zurich-based bank said in a statement on Thursday. The move enables Sygnum, which is backed by heavyweights including UBS' former boss and the ex-head of Switzerland's central bank, to ramp up in the city-state with digital asset investment strategies for institutional investors.
«We want to help our clients construct broader, diversified portfolios with reduced risk and institutional-grade trust,» said Stefan Mueller, Sygnum's head of asset management.
The company, one of two to win a Swiss banking license from Switzerland's regulator last month, said Jennifer Lewis (pictured below) will become an advisor to its Singapore leadership team. Sygnum already won Hsieh Fu Hua, director of Grab Holdings and former chairman of United Overseas Bank, and Ang Kong Hua, chairman of Sembcorp Industries, for its advisory council.
Previously, Lewis was the managing director of communications at the GIC, Singapore's more than $100 billion sovereign wealth fund. Before joining the GIC, where she still advises on communications strategies, she worked as a journalist for 20 years.
