Sygnum has launched a new 24/7 multi-asset instant settlement network.
Sygnum Connect allows for the settlement of flat, digital assets and stablecoin transactions for institutional investors, liquidity providers, stablecoin issuers, brokers and selected exchanges.
Thomas Eichenberger, chief product officer at Sygnum Bank, says: “Sygnum Connect solves an important piece of the settlement puzzle by making transactions between participants in the global crypto ecosystem faster, cheaper, less risky and more reliable.”
Sygnum Connect has launched with existing institutional network, including regulated digital asset exchange AsiaNext, prime broker Hidden Road, liquidity provider B2C2 and connectivity to over 200 of Sygnum’s high-volume trading clients
Kok Kee Chong, CEO at AsiaNext, explains: “The ability to instantly settle fiat, digital payment tokens, stablecoins and tokenised money market funds 24/7, is a game-changer for institutional liquidity and capital efficiency.”
Michael Higgins, global head of business development at Hidden Road, says: “Sygnum Connect’s 24/7 network across fiat and digital assets will bring added speed, efficiency and liquidity to market — priorities that Hidden Road and Sygnum share — and has the potential to improve settlement for institutions.”
Thomas Restout, B2C2 Group CEO, adds: "This partnership with a major global digital asset banking group provides an additional channel for instant, multi-asset settlement."
In additon, Fireblocks will fully integrate the Sygnum Connect network into their platform in the coming months.
Ran Goldi, senior vice president for payments and network at the digital asset infrastructure provider, says: “By integrating Sygnum Connect, Fireblocks Network users will be able to transfer fiat currencies between each other in real-time, 24/7, eliminating the need to wait for settlements to clear with counterparties and providing greater capital efficiency for network participants.”
Image: stock.adobe.com/Tierney 