Swiss Sygnum Bank launches DeFi trading

Category: Crypto Europe
Posted by
Ravindu Dabarera

The new portfolio of options will include several DeFi tokens, and in the near future an array of yield-generating products

Sygnum-1The Sygnum Bank in Switzerland is the next central entity to offer DeFi services to clients. Both custody and trading will be offered for various cryptocurrencies, including Aave, Aragon, Curve, Maker, Synthetix, Uniswap, 1inch Network and of course the stablecoin USDC according to Coindesk.

Clients will soon be able to seek consulting on how to generate yields, as well as to receive yield-generating services, including hedge funds. Ultimately, Sygnum will offer DeFi planning in the same manner as financial planning was possible with the Swiss Franc, being an early bank to embrace the DeFi in Europe.

The digital-asset safekeeping will be conducted in collaboration with Swiss custody tech firm METACO, so that Sygnum may undertake a secure and swift entry into the new venture.

Shortly before, the Swiss National Bank launched Project Jura with the Bank of France, which is testing a wholesale CBDC for cross-border bank-to-bank transactions. This sets the tone for a highly beneficial ambience in Switzerland for digitalized finance.

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