Switzerland: Sygnum Reportedly Onboards Over 20 Banks to Enable Regulated Crypto Services

Sygnum, a global digital asset group, announces that it has reached the milestone of 20+ banks and international financial institutions onboarded onto its B2B platform.

This enables their end-clients “to buy, hold, trade, earn, and transfer cryptocurrencies in a fully regulated environment.”

Sygnum’s 20+ B2B partners reportedly “include PostFinance, ZugerKB, LuzernerKB, VZ Depotbank, PKB, SocGen Forge, Bordier and Bison Digital Assets.”

Via its B2B network, Sygnum enables a third of the Swiss population to buy, hold, trade, earn and transfer cryptocurrencies in a fully regulated environment.

Sygnum’s secure infrastructure and scalable APIs deliver over 1,000 B2B trades per day with 99.9% executed automatically within seconds

Incoming Markets in Crypto-Assets Regulation (MiCAR) paves the way for further growth of regulated digital asset solutions in the 27-country block

Sygnum’s 20+ B2B partners include PostFinance, ZugerKB, LuzernerKB, VZ Depotbank, PKB, SocGen Forge, Bordier and Bison Digital Assets. These industry leaders represent the full industry spectrum from systemically important and cantonal banks to universal, private, and retail financial institutions.

These partners are leveraging Sygnum’s platform “to achieve scale, and collectively empower over a third of the Swiss population to own digital assets with complete trust.”

The increased European regulatory clarity “provided by the incoming Markets in Crypto-Assets Regulation (MiCAR) paves the way for further growth of regulated digital asset solutions in the 27-country block.”

Dr. Alexander Thoma, Head of Digital Assets at PostFinance, says:

“Cryptocurrencies offer an additional investment option and are here to stay. Partnering with a regulated partner like Sygnum Bank has enabled our customers to access digital assets through their principal bank securely and conveniently, 24/7. We look forward to continuing the partnership with Sygnum and becoming the leading, trusted bridge to digital assets in Switzerland.”

61% of PostFinance customers who “bought cryptocurrencies after their launch with Sygnum in February 2024 were not only first-time crypto investors, but also first-time investors in any asset class at PostFinance.”

This trend, also seen in Sygnum’s other B2B partner banks, “underlines the growing acceptance of digital assets as an accessible, secure and future-proof investment strategy.”

Evrard Bordier, Bordier & Cie’s SCmA Managing Partner, says:

“Bordier Switzerland was the first bank to launch on Sygnum’s B2B platform in early 2021, with Bordier Singapore also onboarding earlier this year with Sygnum to provide further global coverage. Sygnum’s institutional grade, secure platform is fully integrated with our existing infrastructure and enables us to future-proof our private banking experience for our clients.”

Hanspeter Rhyner, CEO Zuger Kantonalbank, says:

“We were proud to continue our partnership with Sygnum Bank that’s delivering a trusted and regulated cryptocurrency offering to our clients. By seamlessly integrating crypto and traditional assets on our platform and enabling our customers to conveniently access them via our ebanking and mobile app, both Zuger Kantonalbank’s infrastructure and offering remains agile and ready for the future.”

Sygnum’s secure infrastructure and robust, scalable API delivers “over 1,000 B2B trades per day, with 99.9% executed automatically within seconds.”

This secure integration with partner-bank systems “enables them to deliver a crypto-native user experience for their customers within the e-banking platforms and mobile apps of their existing principal banks.”

Fritz Jost, Chief B2B Officer, Sygnum Bank, adds:

“The introduction of multiple Exchange-Traded Funds (ETFs) for spot Bitcoin and Ethereum has played a prominent part in legitimising the two leading digital assets—bolstering investor confidence in the broader asset class. Robust regulatory frameworks have also ensured higher standards of security and compliance, paving the way for further integration of regulated digital asset services into the mainstream financial system. Through our growing network of B2B partners, Sygnum is now poised to broaden and accelerate this trend through its trusted, regulated platform.”

In 2023, Switzerland’s population “reached 21% cryptocurrency adoption, the highest in Europe and more than double the level of the UK, Germany and France.”

An important factor driving this adoption “is Switzerland’s crypto regulatory framework which provides legal certainty, investor protection and a positive environment for industry innovation.”

It also enables Sygnum to hold “the digital assets traded on behalf of their B2B partner banks off-balance sheet, eliminating counterparty risk towards Sygnum.”

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