Sygnum, the digital asset bank regulated in Switzerland and Singapore, announced it has tokenized its stock. Two weeks ago, the startup unveiled Desygnate, its ‘bank-grade’ token issuance solution, which it’s now using for its own shares. It says it will in the future explore a possible IPO with a dual listing on the SIX Digital Exchange (SDX) as well as the Singapore digital asset exchange announced last week as a joint venture between SIX and SBI.
Sygnum has an existing relationship with both firms. SIX and Sygnum own stakes in Custodigit and daura, and Sygnum recently launched an investment fund with SBI.
But we’re curious how they all fit together. We understand that SDX and SBI are the bigger players and are more likely to be institutional investment destinations, hence the IPO. But where does that leave Desygnate? After all, SDX and SBI both also have token issuance platforms. Will they compete or will Desygnate focus on unlisted stocks and assets? We didn’t receive a response from Sygnum in time for publication.
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