Swiss FINMA licenses startup digital asset banks, partners of Deutsche Boerse, Julius Baer

Today the Swiss Financial Market Authority FINMA granted licenses to two separate digital asset banks Sygnum and SEBA Crypto. They respectively have partnerships with the Deutsche Boerse and Julius Baer. In both cases the companies now have banking and securities dealer licenses.

Sygnum

Earlier this year Deutsche Börse, Swisscom and Sygnum announced plans to crate a a compliant digital asset exchange in Switzerland using blockchain. The join initiative aims to provide digital asset issuance, custody, market making and banking services. “To date, a lack of institutional-grade custody and a truly integrated banking solution has slowed the adoption of digital assets by institutional investors”, said Luka Müller-Studer, Co-Founder and Chairman of Sygnum. “Today’s licence announcement is a game-changer.”

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