Yesterday, digital asset bank Sygnum
announced it had received a capital markets services (CMS) license from the Monetary Authority of Singapore (MAS). The firm can now provide asset management services in the country.
Sygnum, originally an IT provider, began its move towards being a digital asset custodian and bank
earlier this year. With Swisscom, Switzerland’s largest telecoms firm, and Deutsche Börse the securities giant as partners it has since been
licensed by Switzerland’s FINMA for banking and securities dealing. Sygnum onboarded its first customers just
last month.
According to the firm, yesterday’s CMS license allows it to offer digital asset investment consultancy in Singapore. This will first take shape as a multi-manager fund for global investment. Indeed, Sygnum already had a fund management services license from the MAS, but can now work on investment strategies in capital markets.
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