Once it fulfils the final criteria to become a Swiss bank, the company will be able to issue, store, trade and manage the digital assets Bitcoin and Ethereum, and convert fiat currencies such as Swiss francs, Singapore and US dollars and euros into the two cryptocurrencies. The company also will offer custody, brokerage and tokenisation services for digital assets to qualified investors and institutions.
SINGAPORE (Aug 30): Cryptocurrency-related financial services are hard to find in Singapore, as digital assets are a market traditional lenders have tended to avoid. Sygnum, one of the first crypto companies to obtain a conditional banking and securities dealer licence from Swiss regulators, is hoping to fill that gap.
Sygnum, which is based in both Switzerland and Singapore, now plans to apply for a banking licence in the island nation. It has started talking with regulators and petitioned for a capital markets services licence, which will allow the firm to offer asset-management business as a first step into financial services, co-founders Mathias Imbach and Gerald Goh said in a phone interview Tuesday.
