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Sygnum: Swiss FinTech receives license in Singapore

The Swiss FinTech Sygnum pushes on the Asian market. The strategic partners of Deutsche Börse announced plans for an in-house crypto-investment Fund. By Anton

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Sygnum: Swiss FinTech receives license in Singapore

The Swiss FinTech Sygnum pushes on the Asian market. The strategic partners of Deutsche Börse announced plans for an in-house crypto-investment Fund.

By Anton Livshits
31. October 2019BTC$9.216,66 0.93%part Facebook Twitter LinkedIn xing mail

The Swiss FinTech Sygnum with its Expansion after Singapore started. Sygnum has ergakteb by the local regulatory authority Monetary Authority of Singapore (MAS), a license for the conduct of financial services.

Sygnum announced the receipt of a Capital Market Services licence on 31. October. Hereby, the Swiss company can now be as an asset Manager in Singapore. The focus of the activities, therefore, investment strategies for digital Assets will be available. Sygnum would like to offer such consulting activities, both for institutional as well as private customers. The company itself refers to its presence in Singapore as a "cornerstone" of its business strategy. Stefan Müller, Head of Asset Management at Sygnum, commented on the new Expansion of his company as follows:

The CMS license is an important milestone for the development of our Asset Management business, using the dynamic financial environment in Singapore. This is in addition to our banking services in Switzerland and will also benefit our institutional and private clients in Switzerland.

Sygnum plans crypto-Fund-of-funds

Already on 26. August received Sygnum a Bank and a securities license from the Swiss financial market Supervisory authority (FINMA). The company may, therefore, offer banking services in Switzerland. In the framework of the Singapore-announcement Sygnum has announced plans for a first, own financial product in Switzerland.

This will be a "Multi-Manager Fund". So a kind of umbrella Fund, where the invested funds to the Portfolios of various asset Manager to be distributed. This will create the deposited funds then, using various investment strategies. This service will be in Switzerland for private and institutional investors available.

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open up As a crypto-Bank offers Sygnum, however, also have a variety of other services. Customers can buy here, among other things, Bitcoin and Ethereum, and store. The company wants to build a bridge between the traditional financial sphere and of the crypto-world. Not least, the company wants to eliminate barriers to Entry for crypto-market. In March of this year, the FinTech has also entered into a partnership with the Deutsche Börse and the Swiss Swisscom. The aim of the strategic cooperation, the creation of a reliable Ecosystem for the investment in digital Assets.

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