Home » Sygnum, World’s First Crypto Bank, Gets Banking License In Singapore
Cryptocurrency

Sygnum, World’s First Crypto Bank, Gets Banking License In Singapore

crypto

Sygnum, a cryptocurrency bank based in Switzerland, has obtained a banking license to offer its services in Singapore, according to a bank’s announcement through its blog on October 31.

This company, pioneer in having the title of cryptocurrency bank, will target investors and accredited institutions with a fund of multiple administrators, which will also make its debut in its jurisdiction of origin.

The Singapore documentation consists of a capital market services (CMS) license from the Monetary Authority of Singapore (MAS), which is the Asian city state’s de facto central bank.

In the press release, Sygnum’s head of asset management, Stefan Mueller, said: “The CMS license is an important milestone for establishing our asset management arm, leveraging the vibrant financial environment in Singapore. This complements our banking services in Switzerland and will also benefit our Swiss institutional and private qualified investment clients.”


Apart from this expansion to Singapore, Sygnum targets other markets such as Hong Kong and other important European markets. It should be remembered that, in September, Peter Wuffli, CEO of the company and former UBS head, expressed his desire to tap the full potential that cryptocurrency market offers.

Source: https://cointelegraph.com/news/swiss-crypto-bank-gets-approved-for-singapore-banking-license

About the author

Jhon Fernando

Jhon Fernando

Internet marketing and cripto currency journalist / writer. He has a degree in Linguistics from Universidad de Los Andes, in Venezuela. Passionate about digital marketing, with knowledge in topics related to technology and web positioning.

Add Comment

Click here to post a comment

The following GDPR rules must be read and accepted:
This form collects your name, email and content so that we can keep track of the comments placed on the website. For more info check our privacy policy where you will get more info on where, how and why we store your data.