Sygnum Singapore Obtains Approval in Principle to Expand Regulated Business, Enabling Fully Regulated Tokenization Solutions for the Growing Web3 Ecosystem

Dynamics Group AG / Keyword(s): Cryptocurrency / Blockchain / Regulatory Approval
08.03.2022 / 09:00

PRESS RELEASE

Sygnum Singapore Obtains Approval in Principle to Expand Regulated Business, Enabling Fully Regulated Tokenization Solutions for the Growing Web3 Ecosystem

Zürich, March 8, 2022 – Sygnum, a digital asset technology group with a Swiss banking license and a Singapore Capital Markets Services (CMS) license, has received approval in principle from the Monetary Authority of Singapore to conduct three additional regulated activities under its license CMS.

After gaining full approval to conduct the additional activities, Sygnum will be able to leverage its existing tokenization and corporate finance capabilities to provide innovative asset managers and Web3 players in Singapore with a fully regulated capital raising covering the entire value chain, including:

Provide corporate finance advisory services businesses seeking to raise capital – including technical expertise to tokenize capital markets products and digital assets, as well as legal and capital structuring advice focused on digital assets

Trading in capital market products provide access to a broader base of accredited and institutional investors in Singapore seeking fully regulated investment opportunities in capital market products and tokenized digital assets

Provide child care for assets and security tokens

These additional regulated activities are an extension of Sygnum’s existing CMS license for fund management, which has enabled the company to provide accredited and institutional investors in Singapore with diversified exposure to the digital asset economy since 2019 through its suite. asset management products.

Sygnum currently operates a tokenization platform outside of Switzerland, where asset owners have issued tokens representing fractional ownership of various traditional securities and digital assets, including a Picasso paintingand one CryptoPunk NFT, with ownership of each token recorded on a blockchain. The platform also offers professional investors reliable access to these traditionally less accessible asset classes.

With the additional regulated activities under its belt, Sygnum intends to offer its tokenization solution in Singapore with an initial focus on fund unit tokenization, starting with its recently launched venture capital fund, the SBI-Sygnum-Azimut Digital Asset Opportunity Fund. This tokenization exercise will allow accredited and institutional investors to subscribe to the fund with significantly smaller ticket sizes and potentially benefit from secondary liquidity via a listing of these tokenized fund units on a regulated digital asset exchange. Future initiatives include providing corporate finance advice to Web3 platforms and digital creators, and securing their rare digital collectibles, non-fungible tokens (NFTs) and metaverse assets like game items. and virtual lands.

“Singapore continues to be a welcoming destination for trusted financial institutions looking to meet the growing demand for regulated digital asset financial services,” said Gerald Goh, co-founder of Sygnum and CEO of Singapore. “With the recent conclusion of our Series B fundraising, we are committed to accelerating the expansion of our suite of offerings in the financial hub. These three additional activities that Sygnum will be able to conduct allow us to provide managers of assets and Web3 players in Singapore a new, fully regulated platform to raise capital and attract a wider investor base by leveraging blockchain technology.”

“Professional investors today face several technological, regulatory and portfolio challenges when it comes to creating exposure to cryptocurrencies and digital assets more broadly, including NFTs and the emerging metaverse,” said declared Mathias Imbach, co-founder of Sygnum and CEO of the group. “Expanding our offerings to the Singapore market will provide investors with access to a team of blockchain, legal and asset management experts, and a trusted platform with an operational track record, to invest in latest Web3 opportunities with confidence and peace of mind.”

TO FINISH

Editor’s note:

In addition to its existing CMS license allowing Sygnum Pte. ltd. to carry out the regulated activity of fund management, the company has received approval in principle for the following additional regulated activities:

Corporate Finance Consulting,

Capital Markets Products Trading that are securities and units of a collective investment scheme, and

Provide child care

The company will be able to conduct the additional business after meeting the conditions of the Monetary Authority of Singapore (MAS) in-principle approval.

Sygnum Pte. The CMS license of Ltd is solely regulated by MAS in Singapore and does not confer or imply any license rights to Sygnum Bank AG in Switzerland.

About Sygnum
Sygnum is the world’s leading digital asset bank and a world-class digital asset specialist. With the Swiss banking license of Sygnum Bank AG, as well as the Capital Markets Services (CMS) license of Sygnum Pte Ltd in Singapore, Sygnum enables qualified institutional and private investors, corporates, banks and other institutions investors to invest in the digital asset economy with confidence. . Sygnum operates an independently controlled, scalable and scalable regulated banking platform. Our interdisciplinary team of banking, investment and blockchain experts are shaping the development of an ecosystem of trusted digital assets. The company is founded on Swiss and Singaporean heritage and operates globally. To learn more about Sygnum, visit www.sygnum.com.

Media Contact:
Philippe Blangey
Phone. : +41 79 785 46 32
E: [email protected]

Sygnum Bank SA
Uetlibergstrasse 134a
8045 Zürich
Switzerland

Corporate Contact:
Dominique Castley
Phone. : +41 58 508 21 01
Email: [email protected]

Warning: This document has been prepared by Sygnum Bank AG. This document may contain forward-looking statements and may be subject to change. The opinions expressed here are those of Sygnum Pte Ltd, its affiliates and partners at the time of writing. The document is provided for informational purposes only and contains general information. It is reserved for the use of the recipient. It does not constitute advice or a recommendation, offer or invitation by or on behalf of Sygnum Pte Ltd to buy or sell any assets or securities. It is not intended to be used as a general investment guide and should be used for informational purposes only. When making an investment decision, you should either do your own research and analysis or seek expert advice to make a calculated decision. The information and analyzes contained in this document have been compiled from sources believed to be reliable. However, Sygnum Pte Ltd makes no representations as to its reliability or completeness and accepts no liability for any losses arising from reliance on this information.

End of press release

Sara H. Byrd