Sygnum Sees Strong Crypto Demand Boosting New Singapore Brokerage
- Swiss bank saw client assets rise to record at end of May
- Firm got preliminary nod from MAS for digital payment license
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Sygnum AG is seeing strong demand for crypto transactions from fund houses, family offices and institutions, which is expected to boost revenues from a new brokerage business in Singapore.
Sygnum, which runs a digital-asset bank in Switzerland and offers asset management in Singapore, recently got in-principle approval from the Monetary Authority of Singapore for a license that allows it to offer digital token brokerage services. It’s seeking to ride the global rise in demand from corporates and institutions looking for regulated crypto trading venues, said Gerald Goh, co-founder and CEO of Sygnum Singapore.