Crypto Bank Sygnum Singapore Secures Additional Regulatory Approval

Sygnum Singapore, a subsidiary of Sygnum Bank in Switzerland, has been granted in-principle approval by the country’s top financial regulator for three additional activities. These activities include offering corporate finance advisory services, capital market products trading, and custodial services.

Sygnum to Facilitate More Opportunities

The Monetary Authority of Singapore will approve the digital asset bank. It can then leverage its existing tokenization options and finance options to provide additional solutions for asset managers and Web3 participants.

Sygnum Singapore will first offer advisory services for firms looking to raise capital. It will also provide technical expertise in tokenizing capital market products and cryptocurrency.

The company will also provide access to a wider base of institutional investors located in Singapore, who are seeking fully-regulated investment options as well as digital assets.

Third, Sygnum provides custodial services to asset and security tokens.

These new features will be added on to the existing ones provided by the company. The company began offering investors exposure to cryptocurrency in 2019 through its mix of asset management products.

Sygnum also offers a tokenization platform where asset owners can issue tokens that are non-fungible and represent traditional objects. One example is a Picasso painting, and another is a CryptoPunk NFT.

Gerald Goh, Co-Founder and CEO at Sygnum Singapore, praised the Asian country-state as a “welcoming place for trusted financial institutions” looking to enter the digital asset market. According to him, the additional services will enable his company to better connect with Web3 and crypto players.

Mathias Imbach, CEO of Sygnum Bank, also spoke on the subject.

“The expansion of our offerings to the Singapore market will give investors access to a team blockchain, legal, and asset management experts and a trusted platform that has an operational track record to allow them to invest in the most recent Web3 opportunities with total trust and peace-of-mind.”

Sygnum’s Latest Developments

The first digital asset bank allowed customers to use its institution-grade banking platform to place ETH for Ethereum 2.0 using their existing wallets last summer. Sygnum explained that the staking service is fully integrated into its platform, which demonstrates increased security.

Sun Hung Kai & Co., a prominent investment firm based in Hong Kong, led the $90 million round of funding. Sygnum was valued at $800 million.

Mathias Imbach referred to this financing round as a “key landmark” in the company’s expansion worldwide. He predicted that investors will be more interested in digital assets over the next few years.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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