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.”
Sygnum is the world’s first digital asset bank, founded on Swiss and Singapore heritage. We empower professional and institutional investors, banks, corporates and DLT foundations to invest in the digital asset economy with complete trust. Our team enables this via personal, expert service and secure, convenient access to our integrated portfolio of crypto banking, asset management, tokenisation and B2B banking services.
Sygnum is a licenced Swiss bank and is also regulated in the established global financial hubs of Singapore, Abu Dhabi and Luxembourg. We believe that the future has heritage. Our diverse crypto-native team of banking, investment and digital asset technology professionals are building a trusted, regulated bridge between the traditional and digital asset economies that we call Future Finance. To learn more about how Sygnum is shaping this trusted digital asset ecosystem, please visit www.sygnum.com.
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Sygnum Bank AG
This document was prepared by Sygnum Bank AG. This document may contain forward looking statements and may be subject to change. The opinions expressed herein are those of Sygnum Bank AG, its affiliates, and partners at the time of writing. The document is for informational purposes only and contains general material. It is for use by the recipient only. It does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum Bank AG to purchase or sell assets or securities. It is not intended to be used as a general guide to investing, and should be used for informational purposes only. When making an investment decision, you should either conduct your own research and analysis or seek advice from an expert to make a calculated decision. The information and analyses contained in this document have been compiled from sources believed to be reliable. However, Sygnum Bank AG makes no representation as to its reliability or completeness and disclaims all liability for losses arising from the use of this information.
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