Bison Bank, a regulated bank licensed by the Banco de Portugal, has inked an agreement with Sygnum Bank to enter the global crypto markets. The move follows the announcement of Bison Digital Assets, a subsidiary of the bank aiming to provide digital asset services like custody and trading, to the bank’s customers.
Bison will utilize Sygnum’s B2B platform and its entire suite of regulated digital asset services joining 15 other clients already on the platform. The partnership is part of Bison’s strategy of providing services to “crypto-activated investors, institutions and High Net Worth Individual (HNWI) clients.”
António Henriques, Bison Digital Assets’ CEO, said that financial institutions must adhere to the highest regulatory, compliance and security standards when offering digital asset products.
“We are proud to partner with Sygnum and leverage their crypto-native expertise and established track record as we take our first steps in the digital asset market.”
Fritz Jost, Sygnum’s Chief B2B Officer said the ability to offer new products and services is a path for banks to be “future ready” and competitive with other providers.
“Our B2B platform enables this at speed and with full compliance for Bison Digital Assets. This represents another trusted node in the expanding European crypto ecosystem, and we look forward to partnering with banks and bank-backed VASPs that empower their end-clients to invest in crypto with complete trust.”
Sygnum claims to be the world’s first digital asset bank, and a digital asset specialist with global reach. Sygnum Bank AG is regulated and holds a Swiss banking licence, as well as a capital markets services (CMS) license in Singapore.
