Sygnum Singapore receives in-principle approval of Major Payment Institution Licence from the MAS

ZURICH, June 13, 2023 /PRNewswire/ -- Sygnum announces the upcoming expansion of its regulated operations in Singapore following the in-principle approval of its Major Payment Institution Licence (MPIL) application.

• Expanded Singapore offering* includes regulated crypto brokerage service
• Marks latest expansion of Sygnum Singapore's regulated activities following the three-part Capital Markets Licence (CMSL) extension granted in 2022
• Sygnum Singapore further leverages the group's regulated banking infrastructure, product portfolio and digital asset technology expertise
• Strengthens Sygnum's market position as a digital asset service provider in Singapore and South-East Asia

The MPIL will activate the launch of Sygnum Singapore's regulated crypto brokerage service. The platform, featuring a seamless fiat-digital asset gateway and trade execution for a range of cryptocurrencies, offers competitive spreads, deep liquidity and fast trade settlements in addition to live balance updates and quotes and a choice of trading and vault wallets.

All Sygnum clients are assigned a dedicated Relationship Manager to provide personal service and support. It is through these partnerships that clients will be able to conveniently access and benefit from Sygnum's expanded regulated services.

Gerald Goh, Sygnum Co-Founder and CEO Singapore, says "This in-principle approval of our Major Payment Institution Licence by the MAS is a milestone in our strategic growth plans for Sygnum Singapore and South-East Asia. Like Switzerland, Singapore has a progressive, robust regulatory framework that provides investors the clarity and confidence to invest in digital assets – and Future Finance - with complete trust."

The in-principle approval of Sygnum's MPIL application further strengthens Sygnum's position as a leading regulated digital asset service provider in Singapore and across the region. Sygnum Singapore's early mover market position was established in 2019 with its first CMSL. This pioneering reputation was underlined by the three-part CMSL extension granted in 2022 that saw the launch of corporate finance advisory, capital market products and asset and security token custodial services.

*Expanded offering will be available to accredited and institutional investors when all preconditions to granting the MPIL are fulfilled.

About Sygnum

Sygnum is the world's first digital asset bank, founded on Swiss and Singapore heritage. We empower professional and institutional investors, banks, corporates and DLT foundations to invest in the digital asset economy with complete trust. Our team enables this via personal, expert service and secure, convenient access to our integrated portfolio of crypto banking, asset management, tokenisation and B2B banking services.

Sygnum is a licenced Swiss bank and is also regulated in the established global financial hubs of Singapore, Abu Dhabi and Luxembourg. We believe that the future has heritage. Our diverse crypto-native team of banking, investment and digital asset technology professionals are building a trusted, regulated bridge between the traditional and digital asset economies that we call Future Finance. To learn more about how Sygnum is shaping this trusted digital asset ecosystem, please visit www.sygnum.com 

 Disclaimer

This document was prepared by Sygnum Bank AG. This document may contain forward looking statements and may be subject to change. The opinions expressed herein are those of Sygnum Bank AG, its affiliates, and partners at the time of writing. The document is for informational purposes only and contains general material. It is for use by the recipient only. It does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum Bank AG to purchase or sell assets or securities. It is not intended to be used as a general guide to investing, and should be used for informational purposes only. When making an investment decision, you should either conduct your own research and analysis or seek advice from an expert to make a calculated decision. The information and analyses contained in this document have been compiled from sources believed to be reliable. However, Sygnum Bank AG makes no representation as to its reliability or completeness and disclaims all liability for losses arising from the use of this information. 

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