Sygnum, Fireblocks and Wyden Join Forces to Enable Crypto Asset Offering for Luzerner Kantonalbank AG

Zurich 3, August 2023 –  Sygnum, Fireblocks and Wyden have teamed up to offer Luzerner Kantonalbank (LUKB) a fully integrated solution for the trading, custody and transaction monitoring of crypto assets. The fully licensed universal bank plans to offer crypto assets to its clients by end of 2023 at the earliest.  

Sygnum, the world’s first digital asset bank, Fireblocks, an enterprise-grade digital asset operations and direct custody technology provider, and Wyden, the leader in institutional digital asset trading technology, have joined forces to enable Luzerner Kantonalbank AG (LUKB) to offer crypto assets to its 300’000 clients. The setup will be seamlessly integrated into LUKB’s core banking system and offers complete automation of the entire crypto asset lifecycle. LUKB is expected to introduce the offering as of the end of 2023 at the earliest.

Marcel Hurschler, CFO at LUKB, said: “Luzerner Kantonalbank AG continues to support its customers as a reliable partner and with innovative solutions. That’s why we have worked intensively on digital assets and built up inhouse expertise. We are currently developing a customer solution for the secure custody, transfer and trading of crypto and digital assets, and plan to launch our offering at the end of 2023 at the earliest. Sygnum, Wyden and Fireblocks are providing us with crucial technology for our development, and we are looking forward to working with them.”

A new partnership benchmark for institutional digital asset adoption

Mathias Imbach, Sygnum Co-Founder and Group CEO, says “The market entry of LUKB is further proof of the rapid institutional adoption of digital assets and will provide secure and compliant access to digital assets to a broader part of the Swiss population. Luzerner Kantonalbank’s strategic partnership with industry leaders Sygnum Bank, Fireblocks and Wyden clearly demonstrates the strength of institutional-grade technology providers joining forces in Switzerland and beyond. “

Fireblocks CEO, Michael Shaulov, said: “The collaboration with Wyden and Sygnum to support Luzerner Kantonalbank as it builds its innovative digital asset business is a best-in-class example of operational technology, trading execution, and compliance automation working together to offer financial institutions secure and compliant solutions.”

Wyden CEO Andy Flury added: “The partnership between Wyden, renowned Sygnum Bank and global direct custody leader Fireblocks is a strong and very important signal to the Swiss financial industry. It demonstrates Switzerland’s lead in the institutional adoption of digital assets as well as our continued progress in the DACH region, and is also further recognition of Wyden as a leading technology partner for banks.”

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About Sygnum
Sygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. We empower professional and institutional investors, banks, corporates and DLT foundations to invest in digital assets with complete trust. Our team enables this through our institutional-grade security, expert personal service and portfolio of regulated digital asset banking, asset management, tokenisation and B2B services. In Switzerland, Sygnum holds a banking licence and has CMS and Major Payment Institution Licences in Singapore. The group is also regulated in the established global financial hubs of Abu Dhabi and Luxembourg.

We believe that the future has heritage. Our crypto-native team of banking, investment and digital asset technology professionals are building a trusted gateway between the traditional and digital asset economies that we call Future Finance. To learn more about how Sygnum’s mission and values are shaping this digital asset ecosystem, please visit www.sygnum.com.

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Sygnum Bank AG
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About Fireblocks

Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through patent-pending SGX & MPC technology. They have secured the transfer of over $4 trillion in digital assets and have a unique insurance policy that covers assets in storage & in transit. For more information, please visit www.fireblocks.com.

About Wyden
Wyden is the global leader in institutional digital asset trading technology. By covering the entire trade lifecycle and supporting seamless custody, core banking and portfolio management system integration as well as full trade lifecycle automation, the Wyden platform streamlines digital assets trading. Engineered by a team of trading system veterans and crypto asset experts, Wyden offers best-in-class integrated infrastructure solutions that meet the highest institutional needs. Wyden has offices in Zurich, New York and Singapore.  To learn more visit www.wyden.io.

About Luzerner Kantonalbank AG – leading, personal, solid and typically Lucerne
Founded in 1850, Luzerner Kantonalbank AG (LUKB) is the leading bank in Canton Lucerne. With some 1,300 staff, it maintains a network of 23 branches and is one of the largest cantonal banks in Switzerland. Its core business areas include real estate and business financing, pension provision, and asset advisory and management. The Bank is known for its closeness to its clients and its outstanding service, making it the first choice for clients, staff, shareholders, and the local region.

LUKB has been a joint-stock company under private law since 2001 and is listed on SIX Swiss Exchange. It has a free float of 38.5 % of share capital, while the remaining 61.5 % of shares are held by Canton Lucerne. LUKB has a state guarantee, and a long-term AA credit rating from Standard & Poor’s (short-term rating of A-1+). To learn more visit https://www.lukb.ch/de/ueber-uns/english-window

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 authorisation 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.

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