The disaster surrounding FTX is not bringing the Swiss crypto’s endeavors to a halt. On the contrary, Sygnum Bank is placing itself at the heart of Europe's fund ecosystem.
Swiss and Singaporean crypto bank Sygnum is offering services to European banks, funds, and hedge funds in Luxembourg, it said in a statement Thursday.
With its new offering, the crypto bank is aiming to fill the market gap for regulated crypto services with digital asset custody and a B2B banking platform. Sygnum which was granted a banking license by Swiss financial regulator Finma over two years ago,
It will also allow Sygnum to tap into the country's 6 billion Swiss franc fund and asset management market, which is growing by 18 percent annually.
Segregation of Assets
Already live with 15 banks, the service gives modular access to Sygnum’s entire suite of banking services through one entry point, including segregated client wallets, institutional-grade crypto trading, custody, staking, and tokenization, it said.
To eliminate counterparty risks, Sygnum highlights that clients' crypto assets are fully segregated and are included on the company's balance sheet.
Global Expansion
Sygnum recently expanded its global reach with an office in Abu Dhabi as finews.com reported.
