Deutsch한국어日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçePortfolio TrackerSwapCryptocurrenciesPricingIntegrationsNewsEarnBlogNFTWidgetsDeFi Portfolio TrackerOpen API24h ReportPress KitAPI Docs

Swiss Sygnum Bank Integrates SUI to Expand Access to Blockchain

5h ago
bullish:

0

bearish:

0

Share
img

Sygnum Bank, which attained unicorn status in January, has officially announced its support for SUI SUI $3.79 24h volatility: 8.0% Market cap: $13.30 B Vol. 24h: $2.09 B , the native token of the Sui blockchain. It plans to open this new service to its clients while also drawing more traction to the digital asset and its ecosystem. Noteworthy, the Swiss financial service provider is also serving as the banking partner to the Sui Foundation.

Sygnum Reiterates Commitment to Institutional Clients With SUI

Based on Sygnum Bank’s announcement and an X post from Sui, the latter is now fully integrated into the firm’s regulated banking platform. 

On this premise, it offers several benefits to institutional clients. This includes unlocking custody, trading, staking, and treasury services. Sui acknowledges that this development is a major step toward scaling its ecosystem for global finance.

Also, some crypto enthusiasts believe the integration is good for Sui, as it broadens the reach of the protocol. In their opinion, the deal pushes Web3 close to institutional adoption, among other benefits. Sygnum highlighted that being the banking partner of Sui extends the ecosystem’s regulated access and also expands reach to professional and institutional investors. 

Christian Thompson, the Managing Director of the Sui Foundation, noted that “Sygnum’s crypto-native team, end-to-end regulated offering and trusted infrastructure make them our ideal banking partner as we continue to build and scale.” 

In the future, Sygnum Bank plans to introduce staking and Lombard loans for SUI,  a move that could further drive the coin’s expansion. 

Sygnum Co-Founder and Group CEO, Mathias Imbach, reiterated Sygnum’s unique understanding of digital assets. He pointed out that this has positioned the bank as a bridge between the growing digital asset and regulated financial ecosystems. Supporting the Sui Foundation is just one of those strategies for enforcing its stance.

In July 2024, Sygnum launched a new product dubbed Sygnum Connect for its institutional clients. This was designed to enable instant fund settlement for eligible institutional investors via digital assets, fiat currencies, and stablecoins. Some of the services offered via this product were simultaneous delivery vs. payment transactions, on-demand Lombard loans, FX conversions, and stablecoin minting and redemption.

Beyond these integrations, Sygnum Bank has made several other major contributions to the crypto sector.

SUI Stands in the Spotlight

As for SUI, it has seen more traction in recent times, especially after Donald Trump won the United States presidential elections in November 2024. Recently, it received support from the Swiss FINMA-regulated institution AMINA Bank AG. For context, the bank became the first regulated bank in the world to offer custody and trading services for SUI

Just like the deal with Sygnum, AMINA is focused on giving its clients early and compliant access to breakthrough technologies well ahead of mainstream integration. The staking feature for SUI is still inactive but is expected to come in a few months.

The rising interest in SUI is also evident in the multiple ETF filings that are currently in the pipeline. This includes Canary Capital’s filing, 21Shares’ Nasdaq application, and its inclusion in Bitwise’s crypto index ETF.

The post Swiss Sygnum Bank Integrates SUI to Expand Access to Blockchain appeared first on Coinspeaker.

5h ago
bullish:

0

bearish:

0

Share
Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.