Crypto Bank Sygnum Charts a Bumpy Path Amid Start-Up Pains

Singapore – The Swiss Crypto bank, which also resides in Singapore, has been grappling with start-up woes. According to the recent reports, it will ditch its co-CEO model despite the wider management changes. However, its efforts towards tokenization have been overshadowed by key projects’ bumpiness. 

The Zurich and Singapore-based crypto bank has experienced a rockier year than expected. Nevertheless, according to Sygnum‘s co-founder Mathia Imbach, they will continue to create greater access to secure and instantaneous money transfers between two parties globally without centralized intermediaries despite the coronavirus pandemic. Sygnum sees the emergence of an efficient and trusted digital asset economy, and they are ready for the possible challenges that it will bring. 

Simultaneously, the Sygnum co-founder also stated some traditional finance elements would remain present in the next years, making the Zurich-based crypto bank work harder to gain people’s trust and represent more institutions worldwide. Sygnum‘s Imbach said that the company has opted for a multi-custody set up to offer more banks the widest possible features. Through Sygnum‘s long-term strategy and stability, more businesses can tap investors and disclose break-even goals. 

With Sygnum‘s fiat-digital asset gateway, its clients can enjoy using several currencies, such as CHF, EUR, USD, and SGD, in investing in the most prominent cryptocurrencies like XRP, ETH, and BTC. At the time of writing, millions of users worldwide have peace of mind that their money is held with bank-grade security, trust, and convenience.Recently, Sygnum Pte Limited and SBI Ventures Singapore announced their partnership. According to both parties, they want to establish an early-stage fund investing in digital asset opportunities across Europe and Southeast Asia. These opportunities will reach millions of people and focus on improving the financial market infrastructure. Since this project is a hotbed of innovation, it has attracted many talented crypto enthusiasts and entrepreneurs worldwide.

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