Swiss Crypto Bank Receives Greenlight for Trading Services from FINMA
Shutterstock
Main page News, Banking, Crypto Market, Cryptocurrency
Hot topic
2 September
41 41

Sygnum, a Switzerland-based cryptocurrency bank, has received an approval from the Swiss Financial Market Supervisory Authority (FINMA) for its digital asset trading facility.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

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.

Swiss Crypto Bank Adds Support for XRP

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.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error
Close