Sygnum (Bank in Zürich, Switzerland), the world’s first digital asset Bank, and a worldwide digital asset expert announced today about the availability of regulated banking services for prominent decentralized finance (DeFi) token Aave, Aragon, Curve, Maker, Synthetix, Uniswap, and 1inch Network.
Sygnum Bank also provides financial services for the USDC stable coin. This huge extension of Sygnum’s token offering is the first step in Sygnum’s goal of bridging centralized and decentralized finance (DeFi).
DeFi intends to bring new levels of efficiency and service innovation across a variety of classic and innovative financial use-cases, and its network now has USD 60 billion Total Value Locked (TVL) and is poised to expand further.
Furthermore, the current Ethereum 2.0 upgrade, the public blockchain that hosts the vast majority of DeFi apps, and greater adoption of layer two scaling solutions will dramatically improve the scalability and value of these DeFi services. Thomas Eichenberger, Head of Business Units at Sygnum Bank, says:
The innovations in the DeFi space have the potential to transform many of the existing traditional use cases in the financial industry. They also offer opportunities to build and create new, cutting-edge digital asset products and services offering very attractive return profiles for our clients, especially in a continued low-interest environment.
In the initial phase, Sygnum clients will be able to invest directly in these tokens and have access to a full array of banking services, including institutional-grade custody, transfer, and trading.
Sygnum will subsequently provide a suite of DeFi yield-generating products and services throughout its banking and asset management offerings, as well as construct tailored solutions for its clients with chosen DeFi partners.
Sygnum, a pioneer in bringing novel digital asset solutions to the regulated arena, is cooperating with top DeFi protocols to provide clients with a variety of DeFi products and services. These will be completely integrated into one account with major national currencies, cryptocurrencies, a digital CHF, and asset tokens, making the DeFi universe bankable, easy, and trustworthy.
Sergej Kunz, Co-Founder of 1inch Network stated
As Sygnum is a genuine trendsetter of the modern banking world, we believe this partnership will bring great value for both counterparts. For its private qualified and institutional clients, Sygnum becomes a convenient gateway to the enormous DeFi market with lots of new opportunities.
Sygnum permits institutional and private qualified investors, corporates, banks, and other financial institutions to participate in the digital asset economy with total trust.
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