The firm, which has just received a Swiss banking license, hopes to facilitate the mainstream adoption of digital assets into regulated finance.
Sygnum has digitally onboarded its first customers and banked its first digital assets – bitcoin and ether, the firm announced in a statement on Tuesday.
«Sygnum has proven that digital assets are bankable, can be managed in a convenient, non-technical way in one account, and that its customers can invest in the digital asset economy with complete trust,» the statement said.
«Being able to entrust your bitcoin and ether, soon also a digital CHF token as well as asset tokens, to a regulated Swiss bank is no longer an aspiration; with Sygnum it’s now a reality,» Mathias Imbach, Sygnum co-founder and CEO Singapore, said.
The Swiss-Singapore firm became the world's first digital asset bank in late August, when it received a banking and securities dealers from the Swiss Financial Market Supervisory Authority (FINMA).
Bank-Grade Services for Digital Assets
Founded by Mathias Imbach, a venture capital expert, and former Wegelin banker Manuel Krieger, Sygnum delivers traditional bank-grade secure services and convenience for digital assets to its customers. The firm said it wants to not only provide traditional finance access to the burgeoning crypto scene, but also to tie together Switzerland's and Singapore's financial centers.
Sygnum is in the process of obtaining a Capital Market Services (CMS) licence from the Monetary Authority of Singapore (MAS), following which it will offer fund management services, including a digital asset multi-manager fund.
