Sygnum Singapore Expands Services After New Regulatory Approval

Regulatory Milestone for Sygnum Singapore

Sygnum Singapore, a trusted offshoot of Switzerland’s Sygnum cryptocurrency bank, has struck gold with its recent regulatory handshake with the Monetary Authority of Singapore (MAS). This approval, granted on a Tuesday that surely felt like a win day for the team, allows Sygnum to diversify its offerings beyond its original services.

What’s New? A Sneak Peek at Sygnum’s Expanded Services

Thanks to the shiny new in-principle approval, Sygnum will now be able to dabble in:

Corporate finance advisory services
Handling tokenized capital market products
Custodial services for asset and security tokens

Think of it as a buffet of services, where Sygnum’s customers can pile up everything from advisory to custodial services on their plates!

Tokenization Takes Center Stage

With an eye on the tokenization trend in Singapore, Sygnum aims to sprinkle some digital magic on fund units. The first serving? The newly minted SBI-Sygnum-Azimut Digital Asset Opportunity fund—a fancy name for what promises to be a juicy opportunity in venture capital.

A Playground for Creators

But wait, there’s more! Sygnum isn’t just stopping at funds. They plan to dish out corporate finance guidance to Web3 platforms and digital creators. Whether you’re into NFTs or betting on the metaverse, Sygnum wants you at its table.

A Stellar Background with Tokenization

For those unfamiliar, Sygnum isn’t just a newcomer. They operate in Switzerland with a slick tokenization platform that allows asset owners to create digital tokens representing fractional ownership. Talk about democratizing investments! Some high-profile works include a tokenized Picasso and a CryptoPunk NFT. These aren’t just assets; they’re conversations starters—at the very least during awkward dinner parties.

The Funding That Fueled Growth

And to fuel all these exciting developments, Sygnum secured a jaw-dropping $90 million in a Series B funding round back in early 2022, effectively locking in a valuation of $800 million. With investors as prominent as Sun Hung Kai & Co. and tech geniuses like Animoca Brands involved, Sygnum seems to be on every savvy investor’s lips.