Overview
Sygnum, a renowned Swiss digital asset bank, is broadening its offerings to institutional clients with new services for interacting with the Sui blockchain. This move includes regulated custody and trading of SUI tokens, which are set to launch alongside additional services in due course.
Highlights
- Sygnum has entered a partnership with the Sui Foundation to facilitate regulated custody and trading for SUI.
- Staking for SUI will be available soon, complemented by collateral-backed Lombard loans expected in Q4.
- This initiative is designed to meet the rising demands of banks and high-net-worth clients seeking regulated access to digital assets.
Details
Sygnum announced on Friday plans to provide institutional-level custody and trading options for the SUI token to its customers in Zurich and Singapore. This service will include both spot and derivatives trading. Furthermore, staking is anticipated to be available in the coming weeks, with loans projected for the fourth quarter. All SUI assets are expected to be kept off the bank’s financial statements to ensure security against bankruptcy risks.
Background
The Swiss bank recently integrated SUI into its platform, establishing itself as the first Swiss financial institution to fully embrace the token. By collaborating with the Sui Foundation, Sygnum aims to capture the interest from institutional investors eager for reliable, regulated blockchain opportunities.
Further Reading
Sygnum is regulated in several jurisdictions and provides various services, including regulated banking and asset management. At present, SUI is valued at $3.84, reflecting a 4.5% increase over the past 24 hours.
