October 30, 2020

Swiss crypto bank receives regulatory approval for work in Singapore

Swiss crypto bank receives regulatory approval for work in Singapore

Swiss cryptocurrency bank Sygnum received a license to provide banking services in Singapore.

31 October on their official blog representativesBank announced the launch of the first product in the Singapore market. According to them, the bank will mainly focus on working with accredited investors and institutional institutions.

Sygnum Asset Management Chief Stefan Muller said:

License for the provision of capital market servicesis an important step in the development of our asset management division. Thanks to the new service, Swiss customers will be able to access banking services when working with cryptocurrencies.

According to the management, the bank does not plan to rest on its laurels and is considering the possibility of entering the markets of Hong Kong and Europe. Bank CEO Peter Wuffley said:

Thousands of customers contact us, expressing a desire to be able to store digital assets, as well as take them on credit and trade them using fiat.

According to the materials cointelegraph.com