Zuger Kantonalbank launches  mobile-friendly crypto offering with Sygnum Bank 

Zuger Kantonalbank launches mobile-friendly crypto offering with Sygnum Bank

Zurich, 2 October 2023 – Zuger Kantonalbank partners with Sygnum to become the first Swiss cantonal bank to launch a cryptocurrency offering to its customers.  

  • Zuger Kantonalbank’s clients can now buy, hold and trade a range of leading cryptocurrencies including Bitcoin and Ethereum, backed by institutional-grade security 
  • Zuger Kantonalbank leverages Sygnum’s modular, API-powered B2B platform and joins 15+ Swiss banks and international financial institutions on the platform 
  • Crypto trades are executed using Zuger Kantonalbank’s e-banking and mobile banking app 

From today, Zuger Kantonalbank’s customers can invest in a range of leading cryptocurrencies including Bitcoin, Ethereum, XRP, Polygon and Uniswap. Sygnum’s fiat-digital asset gateway enables them to conveniently buy and trade cryptocurrencies via Zuger Kantonalbank’s e-banking and mobile banking app. Assets are secured by Sygnum’s multi- custody solution and held off balance sheet, eliminating all counterparty risk towards Sygnum. 

The 131-year-old financial institution, based in Switzerland’s “crypto valley”, is the first Swiss cantonal bank to respond to increased market demand and offer both traditional and crypto assets on its banking platform. 

Zuger Kantonalbank’s expanded service offering is enabled by Sygnum’s B2B banking platform which provides access to a wide range of FINMA regulated banking services through one entry point. Its modular construction provides flexibility for its B2B partners to tailor services at launch in alignment with their business strategy, as well as the ability to scale and automate their services at speed via APIs. 

Zuger Kantonalbank joins PostFinance and 15+ other Swiss banks and international financial institutions already on Sygnum’s B2B platform. Partnering with Sygnum helps them future-proof their offering by capturing more Share-of-Wallet from existing customers, enhance their competitive position and launch new services at speed.  

Hanspeter Rhyner, CEO Zuger Kantonalbank, says: “We are proud to be the first Swiss cantonal bank to seamlessly integrate traditional and crypto assets on our platform and make these future-ready investments available to our customers. Our partnership with Sygnum to build this advanced infrastructure is a solid foundation for our future development.”   

Mathias Imbach, Sygnum Co-Founder and Group CEO, says “Sygnum Bank is pleased to partner with Zuger Kantonalbank and connect their clients to a new world of digital asset investment opportunities, empowered by complete trust. We believe that the future has heritage, and the combination of Zuger Kantonalbank’s 131 years of service excellence with Sygnum’s trusted gateway to Future Finance is a tangible example of this in action.”  

Fritz Jost, Chief B2B Officer, Sygnum Bank, adds: “From today, Zuger Kantonalbank’s customers have the power to buy a Bitcoin literally at their fingertips using their mobile banking app. We are delighted to join forces with Zuger Kantonalbank and enable them to be the first Swiss cantonal bank to launch a regulated cryptocurrency offering to their clients.” 

END

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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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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