{"id":46232,"date":"2021-07-16T17:13:01","date_gmt":"2021-07-16T14:13:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46232"},"modified":"2025-09-01T15:18:35","modified_gmt":"2025-09-01T12:18:35","slug":"swiss-crypto-bank-sygnum-tokenises-picasso-painting","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/swiss-crypto-bank-sygnum-tokenises-picasso-painting\/","title":{"rendered":"Swiss crypto bank Sygnum tokenises Picasso painting"},"content":{"rendered":"<p>Swiss-regulated crypto bank Sygnum tokenises Pablo Picasso&#8217;s Fillette au b\u00e9ret. Professional and institutional investors will be able to buy an ownership stake in the painting for 1,000 Swiss francs (~$1,088).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udce2The oil painting \u00abFillette au b\u00e9ret\u00bb by Pablo <a href=\"https:\/\/twitter.com\/hashtag\/Picasso?src=hash&#038;ref_src=twsrc%5Etfw\">#Picasso<\/a> is now on the <a href=\"https:\/\/twitter.com\/hashtag\/blockchain?src=hash&#038;ref_src=twsrc%5Etfw\">#blockchain<\/a>! \ud83c\udfa8 In another world first, Sygnum Bank and <a href=\"https:\/\/twitter.com\/ArtemundiGroup?ref_src=twsrc%5Etfw\">@ArtemundiGroup<\/a> have partnered to transform a masterpiece by Picasso into a tradeable, bank-grade security on the blockchain. \u27a1\ufe0f <a href=\"https:\/\/t.co\/0QXWioRFWF\">https:\/\/t.co\/0QXWioRFWF<\/a><\/p>\n<p>\u2014 Sygnum Bank (@sygnumofficial) <a href=\"https:\/\/twitter.com\/sygnumofficial\/status\/1415582783188213763?ref_src=twsrc%5Etfw\">July 15, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Artemundi, an investment company specialising in artworks, has become Sygnum&#8217;s partner. It is responsible for the appraisal of the painting and its valuation.<\/p>\n<p>According to the press release, this is the first instance of a regulated bank tokenising an artwork on the blockchain. Sygnum will issue 4,000 tokens, each backed by an ownership stake in the painting (Art Security Tokens, ASTs).<\/p>\n<p>The minimum lot price will be 5,000 Swiss francs (~$5,436). Settlements will also be conducted in Swiss francs using Sygnum&#8217;s own stablecoin <span data-descr=\"stablecoin pegged to the Swiss franc\" class=\"old_tooltip\">DCHF<\/span>.<\/p>\n<p>Sygnum emphasised that AST holders will co-own the painting \u2014 their rights will be recognised under Swiss law. Access to secondary trading of the tokens will be opened on the crypto-bank&#8217;s platform SygnEx.<\/p>\n<p>The 1964 work Fillette au b\u00e9ret is valued at 4 million Swiss francs (~$4.35 million). In December 2016, at the Uppsala Auktionskammare evening sale, the painting <a href=\"https:\/\/www.uppsalaauktion.se\/fokus\/pablo-picasso-fillette-au-beret\/\">went under the hammer<\/a> for 21.4 million Swedish kronor (~$2.35 million at the rate then).<\/p>\n<p>Earlier, Picasso&#8217;s Femme nue couch\u00e9e au collier was <a href=\"https:\/\/forklog.com\/en\/news\/justin-sun-buys-picasso-and-warhol-paintings-to-tokenise-them-as-nfts\">acquired by Justin Sun, founder of TRON<\/a>. He intends to turn the painting into an <span data-descr=\"non-fungible token\" class=\"old_tooltip\">NFT<\/span>.<\/p>\n<p>Earlier in July, Sygnum expanded its range of services, <a href=\"https:\/\/forklog.com\/en\/news\/sygnum-becomes-the-first-bank-to-offer-ethereum-2-0-staking-to-clients\">opening clients&#8217; access to Ethereum 2.0 staking<\/a>.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swiss-regulated crypto bank Sygnum tokenises Pablo Picasso&#8217;s Fillette au b\u00e9ret. Professional and institutional investors will be able to buy an ownership stake in the painting for 1,000 Swiss francs (~$1,088).<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1282,1331,1316],"class_list":["post-46232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-asset-tokenization","tag-culture-and-art","tag-sygnum"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/46232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=46232"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/46232\/revisions"}],"predecessor-version":[{"id":46233,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/46232\/revisions\/46233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=46232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=46232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=46232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}