Zuger Kantonalbank has partnered with Sygnum to expand its cryptocurrency offerings by adding Cardano (ADA) and Avalanche (AVAX) due to increasing customer demand and regulatory clarity in the U.S. and Europe.
As the first Swiss cantonal bank to provide regulated crypto services since 2023, Zuger Kantonalbank now supports diverse digital assets, including Bitcoin (BTC), Ethereum (ETH), and others. Clients can easily integrate these cryptocurrencies into their traditional banking experience via the bank’s e-banking platform and mobile app.
The expansion of digital assets is fueled by increasing demand for diverse token options, particularly following the establishment of the U.S. Strategic Bitcoin Reserve and the EU’s MiCA regulation, which have bolstered the sector’s growth. Zuger Kantonalbank is committed to providing comprehensive crypto solutions and securing client assets through Sygnum’s institutional-grade custody platform. This platform employs multi-layer security, including both software and hardware controls. It is backed by a strong governance framework and regular external audits, effectively minimizing counterparty risk while enhancing client protection.
Jan Damrau, Head of Corporate Management and Member of the Zuger Kantonalbank Executive Board, highlighted the significance of the expansion, stating,
“The addition of Cardano and Avalanche to our growing cryptocurrency offering empowers clients to conveniently develop their crypto portfolios with their principal bank. Digital assets are approaching a global inflection point, and we are committed to staying ahead of the curve.”
Fritz Jost, Chief B2B Officer at Sygnum Bank, highlighted the growing demand for diverse token options. He pointed out that Zuger Kantonalbank’s recent actions demonstrate an interest in complementary assets beyond Bitcoin and Ethereum.
“We are dedicated to supporting financial institutions in building and expanding regulated crypto asset services under their own brand while ensuring top-tier security,”
he said.
Notably, Sygnum recently partnered with Deribit to enhance its off-exchange custody platform, Sygnum Protect. This collaboration aims to improve asset security for institutional traders while ensuring access to Deribit’s trading options and liquidity.
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