Accounts

How are risk of unfair or disorderly trading of digital payment tokens (“DPTs”) addressed and what are the settlement procedures of DPT transactions?

In general, we operate under a matched principal model where your orders are placed and executed by our designated trading partner, Sygnum Bank AG, a FINMA-regulated Swiss bank in Switzerland (“SBAG”). SBAG executes your DPT trades on a best-execution basis with multiple trading counterparties, thus ensuring fair pricing and minimises the risk of unfair and disorderly trading. We further detail the process of execution and fulfilment of your DPT trade instructions in the client contract and terms and conditions that you entered/or may enter into with us.

What would Sygnum do if it ceases to support a token?

In the event we have ceased to support a given DPT which we are also holding on custody for you, we shall on a best endeavours basis transfer your holdings in the same to a wallet (hosted or otherwise) specified and controlled by you. We will make reasonable efforts to provide prior notice to you of any such decision made.

What are the policies and procedures related to how Sygnum evaluates the digital payment tokens (DPTs) which it chooses to support, or continues to support?

The types of DPTs that we will be supporting for trading may vary from time to time. In all instances, and pursuant to paragraph 6.2 of PS-G03, Sygnum determines whether to support a given DPT based on a number of criteria, including:

  • 1. Is the token still a digital payment token as defined under the Payment Services Act? 
  • 2. Does the token have any anonymity features or other features that would impede our duties to prevent money laundering, proliferation financing and/or terrorism financing to an unacceptable degree? 
  • 3. Is there sufficient liquidity in markets such that Sygnum can acquire or dispose of such tokens within a reasonable time or price? 
  • 4. Whereas the technical infrastructure for custodising your DPTs is provided by our affiliate, we are only able to support DPTs which are similarly supported by our affiliate.

Similarly, at such time that new developments concerning a given DPT emerge from time to time and/or periodically, we may reassess whether to continue supporting a given DPT based on the same criteria above, and may on that basis cease supporting a given DPT.  

What should I do when my digital assets are lost due to fraud or negligence on the part of Sygnum Singapore?

In case of any unusual events which may lead to potential loss or damage of your digital assets, you may contact us by calling the hotline at +65 6015 8808.

What are the fees and costs for the safeguarding of my digital assets?

These are set out in the agreement you enter / entered into with us.

Would I be informed of the safeguarding status of my digital assets by the Safeguarding Person?

We will notify you as soon as practicable once we are informed of an incident relating to the safeguarding of your digital assets or change in any safeguarding terms and conditions.

How do I claim or receive entitlements accruing to me or exercise any right and power arising from my ownership of digital assets in my account?

Such entitlement and rights (if any) arising from your digital assets custodised with us will be held by us and returned to you on demand.

What happens to my digital assets in the event of default of the safeguarding institution?

As you may note in the brokerage and custody terms with us, the safeguarding institution of your digital assets is Sygnum Bank AG (“Safeguarding Person”), a FINMA-regulated Swiss bank in Switzerland. Due to operation of Swiss law, your digital assets are legally excluded from the Sygnum Bank AG’s assets for the purpose of insolvency proceedings. Accordingly, your digital assets are protected in the event of default of the Safeguarding Person, and we will take reasonable steps to recover the assets in accordance with the applicable laws.

Can I authorise another person to give and receive instructions on my behalf relating to my brokerage and custody account with Sygnum Singapore?

Yes, you may authorise such person(s) in writing and notify us of such authorisation. Such authorised person(s) may act on your behalf in connection with all matters relating to the brokerage and custody services that you engage us for, save for any specific actions excluded in any letter of authorisation provided to us.

Where are my digital assets kept? Is my interest in digital assets identifiable by any document or record?

Your digital assets are kept in an omnibus account that we maintain with the Safeguarding Person (“Omnibus Account”). While your interest in digital assets in the Omnibus Account may not be identifiable by separate physical documents or electronic records, we are maintaining and will continue to maintain records of your interest in the digital assets in the Omnibus Account.

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It looks like you are using a computer with an IP address located outside of Singapore. If you are located in Singapore, please click “Continue” to access the Sygnum’s Singapore webpage (https://sygnum.com/sg and  https://secure.sygnum.sg) (“SG Webpage”). If you are not located in Singapore, please read below. This SG Webpage and the information contained herein are addressed solely to persons in Singapore.

Sygnum Pte. Ltd. (“Sygnum SG”) is supervised by the Monetary Authority of Singapore. The products and services on this SG Webpage are authorised in Singapore. Sygnum SG cannot solicit its products and services to persons in other countries where it is not authorised to do so, but Sygnum SG is permitted to contract with persons who choose to initiate a commercial relationship with Sygnum SG. Unless otherwise authorised, Sygnum SG is allowed to provide its services and products only to Accredited Investors and Institutional Investors (as defined under section 4A of the Securities and Futures Act 2001).

This SG Webpage is solely managed by Sygnum SG and should in no way constitute offering or services of any of its related companies (including Sygnum Bank AG). If any link herein directs you to another webpage or website (“Other Webpage”), Sygnum SG is not the owner of Other Webpage and shall in no way be deemed as soliciting or reverse soliciting any persons via Other Webpage.

If you click on “Continue” to visit this SG Webpage, you confirm that you have read and understood the above and you are visiting this SG Website on your own initiative without any active promotion or solicitation from Sygnum SG and you have reviewed and hereby agree to the Terms of Use and Privacy Notice for accessing this SG Website.

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Local restrictions – Provision of cross-border services

Please note that you are about to leave the Sygnum Singapore Website.

If you are located in Switzerland, please click “Continue” to access the Sygnum Bank AG (hereinafter “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 authorized in Switzerland. Sygnum cannot promote its products and services in other countries where it is not authorized by the supervisory authority of that country to do so. You hereby acknowledge that certain products and services of Sygnum are not accessible to residents or nationals of certain countries outside of Switzerland. If you would like to know more about the services and products available in your country, please contact the respective office by clicking here.

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.

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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.

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