RATE Group | Swiss Crypto Bank Gets Approved for Singapore Banking License
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Swiss Crypto Bank Gets Approved for Singapore Banking License

10 Nov Swiss Crypto Bank Gets Approved for Singapore Banking License

Posted at 09:21h in Cryptocurrency News by

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Swiss-based cryptocurrency bank Sygnum has received the go-ahead to offer banking services in Singapore.

Sygnum: license is “important milestone”

In a blog post on Oct. 31, Sygnum, which gained a Swiss banking license in August this year, can now proceed with its first product for the Singapore market.

Sygnum was the first Swiss company to win the title of cryptocurrency bank and will target accredited investors and institutions with a multi-manager fund, which will also debut in its home jurisdiction.

Long on the cards, the Singapore documentation comes in the form of a capital markets services (CMS) license from the Monetary Authority of Singapore (MAS), the Asian city state’s de facto central bank. 

Sygnum’s head of asset management, Stefan Mueller, commented in the press release:

“The CMS license is an important milestone to establishing our asset management arm, leveraging the vibrant financial environment in Singapore. This is complementary to our banking services in…

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