Sygnum and 20 Banks Partner to Offer Regulated Crypto Services in Switzerland
If you are a crypto enthusiast in Switzerland, you will be delighted to know that Sygnum Bank, a global digital asset group, has joined forces with over 20 banks and international financial institutions to provide regulated crypto services to a significant portion of the Swiss population.
– A third of Switzerland’s population now has access to regulated crypto services
– Sygnum partners with over 20 banks and financial institutions to offer these services
Key Partners Involved in the Collaboration
The collaboration between Sygnum and the 20 banks includes industry leaders such as:
– PostFinance
– ZugerKB
– LuzernerKB
– VZ Depotbank
– PKB
– SocGen Forge
– Bordier
– Bison Digital Assets
Paving the Way for Crypto Adoption
The strategic partnership is supported by the MiCAR regulation, which facilitates the growth of the crypto sector in the European Union. This collaboration aims to:
– Foster the adoption of crypto assets
– Provide secure and compliant digital asset services
– Promote the integration of regulated crypto services into the traditional financial system
Sygnum and Partners Fueling Crypto Growth in Switzerland
Fritz Jost, Chief B2B Officer of Sygnum Bank, emphasized the role of regulated ETFs for Bitcoin and Ethereum in legitimizing digital assets. He stated that this partnership would accelerate the trend of regulated crypto services in the traditional financial system.
– ETFs for Bitcoin and Ethereum contribute to legitimizing digital assets
– Regulated partnerships enhance investor confidence in the crypto market
Additionally, Alexander Thoma, Head of Digital Assets at PostFinance, highlighted the importance of collaborating with a regulated partner like Sygnum Bank to provide clients with secure and convenient access to digital assets through their main bank.
– Collaboration with Sygnum Bank allows clients to access digital assets securely
– PostFinance aims to become the main bridge of trust for digital assets in Switzerland
PostFinance and Sygnum’s Previous Collaboration
PostFinance and Sygnum Bank had previously launched a crypto custody offering for 2.5 million customers. This successful partnership demonstrates:
– Commitment to advancing crypto adoption in Switzerland
– Provision of innovative financial products to the Swiss market
Swiss Banks Embrace Crypto Sector
Swiss banks are increasingly embracing the crypto sector, as seen by recent developments such as:
– Swiss National Bank extending its CBDC pilot project
– Relio becoming crypto-friendly and open to Web3 companies
Positive Developments in Swiss Digital Finance Ecosystem
The extension of the SNB’s CBDC pilot and Relio’s initiative to support Web3 companies signal a positive shift in the Swiss digital finance ecosystem. These developments illustrate:
– Growing acceptance of crypto assets by traditional financial institutions
– Increased opportunities for blockchain and Web3 companies in Switzerland
Hot Take: Sygnum’s Impact on Swiss Crypto Scene
Sygnum’s partnership with over 20 banks marks a significant milestone in the Swiss crypto scene, offering a regulated and reliable platform for a third of the population. As crypto adoption continues to grow, collaborations like these play a crucial role in bridging traditional finance with the digital asset space.
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