Sygnum, a Switzerland-based cryptocurrency bank, has received an approval from the Swiss Financial Market Supervisory Authority (FINMA) for its digital asset trading facility.
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In an official announcement, the bank says its trading facility offers investors’ access to new investment opportunities, including instant settlement, the ability to move between fiat, digital CHF (DCHF) and asset token positions in real-time, and the security of bank-grade custody.
Sygnum is already collaborating with issuers to tokenize their shares, raise capital via digital assets a fully digital manner as well as listing their securities.
Sygnum Co-Founder Mathias Imbach says the bank's DLT-based tokenization solution "streamlines the securitization process end-to-end, delivering greater transparency and efficiency as well as reducing transaction times and costs."
"Without regulated secondary trading venues with relevant liquidity, tokenization will not take off. Much more collaboration between digital asset specialists such as Sygnum and established exchanges and banks, as well as M&A related service providers along the value chain, is needed," Imbach added.
In June, a Swiss transaction bank, InCore Bank, announced it had received a permission from the FINMA to trade, hold, transfer and generate (tokenize) digital assets.
With the approval, InCore Bank became the first Switzerland-based bank to offer financial service providers and institutions worldwide.
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