Swiss crypto bank Sygnum offers trading and custody of DeFi tokens

The Swiss-regulated crypto bank Sygnum has expanded its range of services by offering custody and trading of DeFi project tokens.

#BreakingNews
Sygnum Bank now offers regulated banking services for leading DeFi tokens: #Aave, #Aragon, #Curve, #Maker, #Synthetix, #Uniswap, #1inch, as well as stablecoin, USDC by Circle.

➡ https://t.co/kyhaeZcVU9#DeFi, #digitalassets

— Sygnum Bank (@sygnumofficial) June 15, 2021

Sygnum has added support for Aave, Aragon, Curve, Maker, Synthetix, Uniswap and 1inch Network, as well as banking services using the stablecoin USDC.

In the next phase, the bank will integrate yield-generating products and services from the DeFi space.

“This could be staking, borrowing, lending. Clients will have the opportunity to increase returns on capital in a low-interest-rate environment,” explained Thomas Aichenberger, head of business divisions at Sygnum Bank.

According to the executive, the new products will be integrated on a single account with fiat, cryptocurrencies, digital Swiss francs and asset-backed tokens. He added that this will make the “DeFi universe” convenient and reliable.

In December 2020, Sygnum tokenised its shares and planned to become the first among financial institutions to conduct an IPO based on distributed ledger technology.

Earlier, Sygnum received approval from FINMA for primary issuance, custody, and secondary trading of digital securities.

Wharton School of Business experts have recognised the ability of DeFi to transform the global financial system.

Subscribe to the ForkLog channel on YouTube!