Sygnum receives FINMA approval 29 August 2019Zurich Reporter: Becky Bellamy
Image: Shutterstock
Digital asset technology group Sygnum has received a banking and securities dealer licence from the Swiss Financial Market Supervisory Authority (FINMA).
Sygnum delivers traditional bank-grade secure services to its customers, including institutional and private qualified investors, corporates, banks and other financial institutions.
The digital asset technology group is now looking to get a license in Singapore. It said the license will allow them to offer fund management services, including a digital asset multi-manager fund.
Manuel Krieger, co-founder and CEO Switzerland at Sygnum, described the license in Switzerland as a “significant milestone and an important step towards the institutionalisation of the digital asset economy”.
Also commenting, Mathias Imbach, co-founder and CEO Switzerland at Sygnum, explained: “This licence is a major landmark on our mission to empower digital asset banking by building integrated, secure products and services with seamless customer experiences. We are looking forward to taking Sygnum’s integrated digital asset banking solution to market, together with our valued customers and partners.”
Luka Müller-Studer, co-founder and chairman, added: “To date, a lack of institutional-grade custody and a truly integrated banking solution has slowed the adoption of digital assets by institutional investors.”
“[The] licence announcement is a game-changer. By methodologically incorporating digital assets into traditional banking, and injecting much needed DLT-driven agility, Sygnum is accelerating the development of an important new asset class.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 