- Strategic move positions Sygnum for Q1 2025 entry to all 30 EU and EEA markets
- Part of multi-regional expansion strategy that includes Hong Kong, leveraging Sygnum Singapore’s regulated crypto brokerage and further growing its B2B footprint of 20+ banks
- Follows announcement of H1 2024 profitability, traditional securities expansion and
launch of Sygnum Connect multi-asset settlement network
Zurich, 23 September, 2024: Sygnum, a global digital asset banking group founded on Swiss and Singapore heritage, has taken a significant step toward its European expansion by registering its local subsidiary with the Lichtenstein financial regulator, FMAi.
The registration enables Sygnum to offer its regulated digital assets services, including brokerage, custody and B2B banking, to the Liechtenstein market. By establishing this presence in a European Economic Area (EEA) member, Sygnum is able to leverage the country’s harmonised regulations with the EU, including the incoming Markets in Crypto-Assets Regulation (MiCA).
“We are excited to announce Sygnum’s expansion into Liechtenstein, a country known for its forward-thinking approach to innovations in finance and digital assets,” said Martin Burgherr, Sygnum Chief Clients Officer. “The registration as CASP in Liechtenstein paves the way for a significant expansion of our regulated footprint into the EU, the world’s largest trading bloc.”
Approved by the Parliament in October 2019, the TVTG made Liechtenstein, alongside Switzerland, one of the first jurisdictions with a comprehensive regulatory framework for digital assets. Following the TVTG coming into effect in early 2020, Liechtenstein has rapidly become a hub of digital asset and blockchain innovation, and is now poised to become a gateway to Europe for key players like Sygnum looking to offer regulated crypto services in the EU.
Sygnum’s Liechtenstein presence is a major stepping stone for the group’s expanded European market entry which was announced earlier this year. Sygnum is finalising its readiness for the European MiCA regulation, which Liechtenstein will absorb into its regulatory framework in Q1 2025 and provide the bank access to all 30 EU and EEA markets.
In Asia, Sygnum also plans to expand into Hong Kong as well as increase its footprint via Sygnum Singapore’s regulated digital asset financial services platform. In 2022, Sygnum expanded its regulated offering into Luxembourg, Europe’s largest fund market, and last year enabled local access to Swiss-regulated digital asset services in Abu Dhabi.
In January 2024, Sygnum raised more than $40 million via an oversubscribed financing round, reaching a valuation of USD 900 million. Today, the group has more than $125 million USD equivalent core equity capital. This year the group also partnered with PostFinance to launch its crypto service, collaborated with Hamilton Lane and Fidelity on tokenization projects, and launched Sygnum Connect, a 24/7 multi-asset settlement network with AsiaNext, Hidden Road and B2C2 that can be accessed via Fireblocks.
Sygnum recently reported H1 2024 profitability with numerous key business metrics seeing substantial growth year-to-date, and became the first regulated bank to issue a Bitcoin-backed syndicated $50 million loan to a crypto lending platform.
i Sygnum’s Liechtenstein subsidiary Sygnum Europe AG has been registered as service provider under the Token and Trusted Technology Service Provider Act (Token- und VT-Dienstleister-Gesetz, TVTG) with the Liechtenstein financial Market Authority (Finanzmarktaufsicht Liechtenstein, FMA).
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 sygnum.com and follow us on LinkedIn and X.
Media Contact
Dominic Castley, CMO
[email protected]
Sygnum Bank AG,
Uetlibergstrasse 134a,
8045 Zurich, Switzerland
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