Sygnum, the first Swiss regulated cryptobank

Sygnum will fill the space in the cryptocurrency industry, in the absence of a bank that accepts projects involved with nascent technology. Earning the name of the first bank of digital assets in the world having as main partners, Swisscom and with Deutsche Börse.

According to what was published on the cryptobank website “Sygnum’s mission is to empower everyone with direct access to property and value… We strive to transform the financial industry by realizing the potential of DLT and, through this, help create a world where people have more control, freedom and direct access to property and value.”

Currently, the co-founders of the firm Switzerland and Singapore, Mathias Imbach and Gerald Boh are in permanent talks and requirements to obtain a banking license in Singapore. This is due to Switzerland’s ambitions to continue growing and expand this innovation.

One of the members of the board of Sygnum, Peter Wuffli, who in 2008 left his position as CEO of UBS right in the middle of the financial crisis that was in development, said in an interview for Finews, which means the emergence of this new cryptobank for traditional financial institutions, ensuring that executives of other banks have put their interns to find out if this is another FinTech  fashion or if it will really be something transformative.

“I still believe that Swiss banks are very well positioned because the global market with rich individuals will not disappear. There is still a premium for good advice, and especially for addressing complicated family and business needs. The problem is that it is not a growing business as it used to be, which explains to some extent why valuations are where they are,” Wuffli declared  to Finews.

K.Villarroel

Source: bitcoin