SYGNUM TODAY ACHIEVES THE STATUS AS WORLD’S FIRST DIGITAL ASSET BANK
ZURICH, 30 August 2019 – Sygnum’s banking and securities dealer licence now has full legal force. Following the in-principle approval from the Swiss Financial Market Authority (FINMA) earlier this week, Sygnum has successfully fulfilled all secondary criteria, becoming the world's first digital asset bank.
On 26 August 2019, the Swiss regulator, FINMA, awarded Sygnum and SEBA with an in-principle banking and securities dealer licence. Sygnum fulfilled all secondary criteria in just four days, giving the licence full legal force. With this, Sygnum is delighted to announce today that it is now the world’s first digital asset bank.
Editor’s update: On 16 September 2019, SEBA also fulfilled the secondary criteria required by FINMA. We congratulate SEBA and welcome them as another trusted node in the Swiss digital asset ecosystem, further strengthening its adoption and growth.
With its banking and securities dealer licence having full legal force, Sygnum can now deliver secure and convenient banking services for digital assets to its customers, including institutional and private qualified investors, corporates, banks and other financial institutions. This means for the first time, digital assets are fully bankable. This is achieved by seamlessly integrating Swiss Francs, US and Singapore Dollars and Euros, plus major digital assets including Bitcoin and Ethereum as well as digital CHF tokens, into one account. Asset tokens based on existing assets are planned to be offered soon.
Sygnum will now commence rolling out its digital asset banking solution in pilot phases, and is preboarding customers for when services fully go-live at preboard.sygnum.com.
Sygnum is the world’s first digital asset bank. With its Swiss banking licence, Sygnum empowers institutional and private qualified investors, corporates, banks and other financial institutions to invest in the digital asset economy with complete trust. The company is the first to offer an independently controlled, scalable and future proof regulated digital asset banking solution. Sygnum’s 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 banking heritage and operates globally. To learn more about Sygnum, please visit www.sygnum.com