Sygnum to collaborate on Web3 solutions with Hong Kong’s Century City Group
Zurich, 12 April 2022 – Sygnum, a digital asset technology group with a Swiss banking licence and a Singapore capital markets services licence, will explore the development of Web 3.0 solutions with Century City Group, a leading Hong Kong investment holding, property development and hospitality management group.
Key areas of collaboration – which will be carried out through Regal Hotels International Holdings (SEHK:78), a member of the Century City Group – include developing bespoke Web 3.0 asset management mandates for Century City Group portfolio companies to build exposure to the digital asset economy, as well as exploring the tokenization of physical and digital asset portfolios.
This initiative follows Sygnum’s conclusion of its Series B round in January this year which was led by Sun Hung Kai & Co. Limited (SEHK:86), a leading Hong Kong listed alternative investment financial services institution. The use of proceeds of the USD 90 million round includes, among other initiatives, the acceleration of Sygnum’s entry into new global markets like Hong Kong, and the co-creation and distribution of products internationally with strategic partners.
“We are excited to collaborate with Century City Group, alongside Sun Hung Kai & Co. Ltd, to accelerate our international expansion into Hong Kong,” says Gerald Goh, Sygnum Co-Founder and Singapore CEO. “By leveraging their networks and Sygnum’s expertise in building institutional-grade Web 3.0 offerings, we look forward to developing innovative, tailored solutions for investors in the region.”
Poman Lo, Vice Chairman and Managing Director Regal Hotels International, and Vice Chairman of Century City International, says: “Demand for digital asset funds and products has been surging to unprecedented levels in Hong Kong and around the world. Advancements in blockchain and big data technologies, as well as the emergence of innovative business models, have given rise to new investment opportunities driven by the explosive growth in both the application and adoption of non-fungible tokens and asset tokenization. Sygnum, with its unique suite of fully-regulated digital asset solutions and its robust ecosystem of partners, is a strategic choice of platform for Century City Group to collaborate with as we expand our portfolio of fintech investments and mark our first foray into the digital asset economy.”
Sygnum is the world’s first digital asset bank, and a digital asset specialist with global reach. With Sygnum Bank AG’s Swiss banking licence, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers professional and institutional investors, corporates, banks, and other financial institutions to invest in the digital asset economy with complete trust. Sygnum operates an independently controlled, scalable, and future-proof regulated banking platform. Our interdisciplinary team of banking, investment, and Distributed Ledger Technology (DLT) experts is shaping the development of a trusted digital asset ecosystem. The company is founded on Swiss and Singapore heritage and operates globally. To learn more about Sygnum, please visit www.sygnum.com
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About Century City Group
The Century City Group comprises a total of five listed entities in Hong Kong, with the Century City International Holdings Limited acting as the ultimate holding company of the Group. Core businesses of the group include hotel and property businesses conducted through various subsidiaries. The group presently owns five Regal Hotels, five iclub Hotels and Regala Skycity Hotel operating in Hong Kong.
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