Swiss digital bank Sygnum will provide services for institutional clients for the storage and trading of AAVE, ANT, CRV, MKR, SNX, UNI and 1INCH tokens, as well as USDC stablecoin.
Sygnum announces that the bank’s clients will be able to directly invest in these cryptocurrencies. In the future, the bank plans to launch products and services related to decentralized finance (DeFi), and aimed at generating additional income.
In addition, Sygnum will provide customized solutions for institutional and private clients in collaboration with partners from the DeFi industry. Such products can be used alongside government currencies, cryptocurrencies, digital Swiss francs and tokenized assets, using a single account.
Thomas Eichenberger, head of business development at Sygnum, said that innovation at DeFi will transform the traditional financial industry for the better. He believes DeFi products have great potential and can generate good returns in a low interest rate environment. In turn, CEO of Curve Mikhail Egorov said that Sygnum bank has become a “link” between traditional and decentralized finance. Egorov expects that the number of such “bridges” will increase in the future.
The actions of digital bank Sygnum could be a welcome boost for the decentralized finance sector, as activity in Ethereum-based DeFi projects has dropped significantly. However, one can find a positive point in this – a decrease in the number of transactions has led to a decrease in fees on the Ethereum network.
In May, Sygnum began providing custody services for the ICP token of the DFINITY project, and also announced plans to connect spot trading and lending for it. In addition, at the end of last year, Sygnum tokenized its shares on the Ethereum blockchain.
