Yesterday Sygnum
revealed that it has onboarded its first customers and become the first operational digital asset bank. The project is a 3-way initiative between the firm, Swisscom, and Deutsche Börse. Initially an IT provider, Sygnum registered with regulators this year and so took on the role of digital asset custodian.
First
announced in March, the joint project broadly aimed to provide a regulated digital asset exchange. This comprised of issuance of digital assets, custody, market making, and banking services using blockchain.
Then, last month, Sygnum
received its banking license from the Swiss Financial Market Authority and a fund management services license from the Monetary Authority of Singapore. At the time, the firm said the announcement was a “game-changer”. Indeed, a few days later, Sygnum became the first digital asset bank.
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