Print PDF
Discover the top news in crypto for the week!

Discover the top news in crypto for the week!

Crypto

More hedge funds are investing in crypto despite the recent market decline. Meanwhile, Brazil is taking a more friendly approach to digital assets while crypto is booming in Southeast Asia. Find out the top 5 crypto news of this week.

Why institutions are eyeing blockchain’s biggest technological upgrade

One of the biggest shifts in blockchain history will happen soon, with Ethereum changing its consensus from Proof-of-Work (PoW) to Proof-of-Stake (PoS). The last testnet – Ropsten – was successful according to developers and the broader ecosystem, increasing the enthusiasm for the full merge later this year. Meanwhile, staked amounts in Ethereum have grown by over 25 percent since April, with 400,000 unique validators and over 74,000 depositors. Read more

PwC survey sees more hedge funds investing in crypto, in spite of volatility

A new survey by PwC found that hedge funds are investing more in digital assets this year than in 2021. PwC estimates there are over 300 crypto-focused hedge funds worldwide, while 38 percent of hedge funds surveyed have invested in crypto, up from 21 percent in 2021.

Around two-thirds of funds plan to invest in crypto by the end of the year, while the crypto weight on portfolios is still relatively low. Read more

Brazilian proposal would make crypto payments legal and protect private keys

A new bill in Brazil will change the country’s approach to digital assets, making it a more friendly destination, set to increase adoption. The new proposal would make cryptocurrencies legal for several purposes, including as a payment form and investment asset. The bill would also offer investors more protection over their private keys in scenarios where courts may want to freeze funds. Read more

In Southeast Asia, a booming crypto scene

Southeast Asia is becoming a surging crypto scene, with more than 600 crypto and blockchain companies headquartered there. Beyond new crypto companies, VC interest in Southeast Asia is booming, with almost $1 billion invested in 2022, ahead of its 2021 record of $1.45 billion. Despite China and Singapore having super-developed crypto hubs, there are several opportunities for digital asset services in Asia, with a large portion of the population unbanked. Read more

Farfetch to accept crypto payments

Farfetch announced it would support crypto payments on its platform while enabling boutique partners to integrate with crypto. The company will support BTC, ETH, and BNB, while first launching this option for its top private clients and then in the US and Europe by the end of 2022. Farfetch is the latest luxury outlet going the crypto route after brands like Gucci and Balenciaga recently announced support for crypto payments.

Read more

About Sygnum
Sygnum is the world’s first digital asset bank, and a digital asset specialist with global reach. With Sygnum Bank AG’s Swiss banking licence, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers institutional and private qualified investors, corporates, banks, and other financial institutions to invest in the digital asset economy with complete trust. Sygnum operates an independently controlled, scalable, and future-proof regulated banking platform. Our interdisciplinary team of banking, investment, and Distributed Ledger Technology (DLT) experts is shaping the development of a trusted digital asset ecosystem. The company is founded on Swiss and Singapore heritage and operates globally. To learn more about Sygnum, please visit www.sygnum.com.

Disclaimer
This document is purely for educational purposes and has been issued by Sygnum Group. It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a marketing communication. It does not constitute an offer or a recommendation to subscribe, purchase, sell or hold any security or financial instrument. It contains the opinions of Sygnum Group, as at the date of issue. These opinions and the information contained herein do not take into account an individual‘s specific circumstances, objectives, or needs. No representation is made that any investment or strategy is suitable or appropriate to individual circumstances or that any investment or strategy constitutes personalized investment advice to any investor. Therefore, you must verify the above and all other information provided in the document or otherwise review it with your external advisors. Some investment products and services, including custody, may be subject to legal restrictions or may not be available worldwide on an unrestricted basis. The information and analysis contained herein are based on sources considered as reliable. Sygnum Group uses its best efforts to ensure the timeliness, accuracy, and comprehensiveness of the information contained in this document. Nevertheless, all information indicated herein may change without notice.

Read next article

Local restrictions – Provision of cross-border services

It looks like you are using a computer with an IP address located outside of Switzerland.
If you are located in Switzerland, please click “Continue” to access the Sygnum Bank AG (Sygnum) website.

If you are not located in Switzerland, please read below.

This website and the information contained herein are addressed solely to persons residing or domiciled in Switzerland.

Sygnum is a regulated bank supervised by the Swiss Market Financial Authority (FINMA). The products and services on this website are authorised in Switzerland. Sygnum cannot promote its products and services in other countries where it is not authorised by the supervisory authority of that country to do so.

If you click on “Continue” to visit this website, you confirm that you have read and understood the above and you are visiting this website on your own initiative without any active promotion or solicitation from Sygnum.

RETURN CONTINUE

Investor qualification

The following content is available to qualified investors. Please confirm your details below to visit this page, or please see our other digital asset updates here.

Qualified investor - As defined in Art. 10 (3) ff. of the Swiss Collective Investment Schemes Act. In particular, natural persons who have the knowledge required to comprehend the risks of the investments based on their individual education and professional experience or based on comparable experience in the financial sector and hold liquid assets of at least CHF 500,000.

A US Person is defined as (a) an individual who is a citizen or resident of the United States for federal income tax purposes; (b) a corporation, partnership or other entity created or organised under the laws of or existing in the United States; (c) an estate or trust the income of which is subject to United States federal income taxes regardless of whether such income is effectively connected with a United States trade or business.

Disclaimer:

The information in this publication pertaining to Sygnum Bank AG (“Sygnum”) is for general information purposes only, as per date of publication, and should not be considered exhaustive. This publication does not consider the financial situation of any natural or legal person, nor does it provide any tax, legal or investment advice. This publication does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum to purchase or sell any assets. No elements of precontractual or contractual relationship are intended. While the information is believed to be from accurate and reliable sources, Sygnum makes no representation or warranties, expressed or implied, as to the accuracy of the information. Sygnum expressly disclaims any and all liability that may be based on such information, omissions, or errors thereof. Any statements contained in this publication attributed to a third party represent Sygnum‘s interpretation of the data, information and/or opinions provided by that third party either publicly or through a subscription service, and such use and interpretation have not been reviewed by the third party. Sygnum reserves the right to amend or replace the information, in part or entirely, at any time, and without any obligation to notify the recipient of such amendment / replacement or to provide the recipient with access to the information. Simultaneously, there is no obligation of Sygnum to inform recipients of information, if before provided information later becomes outdated, inaccurate or obsolete, unless otherwise provided by applicable law. The information provided is not intended for use by or distributed to any individual or legal entity in any jurisdiction or country where such distribution, publication or use would be contrary to the law or regulatory provisions or in which Sygnum does not hold the necessary registration, approval authorization or license. Except as otherwise provided by Sygnum, it is not allowed to modify, copy, distribute or reproduce, display, license, or otherwise use any content for commercial purposes.

Mandatory fields

Security alert

Stay alert to fraudulent communications. Sygnum will never post messages on social media or private messaging applications regarding Sygnum banking access or logins. If you have concerns, contact us.

Close