Business News Report Technology
July 11, 2024

Sygnum Unveils Sygnum Connect Network For 24/7 Multi-Asset Instant Settlements

In Brief

Sygnum released Sygnum Connect to facilitate transaction settlement with fiat and digital assets for institutional investors, LPs, and more.

Sygnum Unveils Sygnum Connect Network For 24/7 Multi-Asset Instant Settlements

Cryptocurrency bank Sygnum unveiled the release of Sygnum Connect, a round-the-clock multi-asset instant settlement network whose goal is to fulfill the demand for a product that offers capital efficiency and on-demand liquidity needed for the evolution of the digital asset ecosystem.

The new network will facilitate the settlement of transactions involving fiat, digital assets, and stablecoins for institutional investors, liquidity providers, stablecoin issuers, brokers, and exchanges.

Its members will gain exposure to USD, EUR, CHF, and SGD fiat payments, while payments for a variety of digital assets encompassing BTC, ETH, and stablecoins will be incorporated later this year. Additionally, the network scope is set to broaden with the introduction of add-on services such as delivery-vs-payment transactions, on-demand Lombard loans, FX conversions, and stablecoin minting and redemption.

Initially, Sygnum Connect had a linkage to partner network, encompassing AsiaNext, Hidden Road, and B2C2, also offering connectivity to approximately two hundred global trading clients of Sygnum.

Sygnum functions as a digital asset banking group that provides opportunities for investors, banks, corporates, and DLT foundations to invest in digital assets. In January, Sygnum concluded a $40 million funding round, valuing the firm at $900 million. The newly acquired capital is earmarked for expanding its offerings into new markets across Europe and Asia. Notably, since its last funding round in 2022, the bank’s assets under management have increased to $4 billion, serving 1,700 clients from over 60 countries.

Recently, Sygnum has entered into a collaboration with Fidelity International and the decentralized computing platform Chainlink to jointly create a project intended to bring net asset value (NAV) data onto the blockchain. The partnership will improve transparency and accessibility for NAV data associated with tokenized assets.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Join Our Innovative Tech Community
Read More
Read more
The Great Crypto Leap: How Ethereum ETFs Are Paving a Rocky Road for Solana and Beyond
Opinion Business Markets Software Technology
The Great Crypto Leap: How Ethereum ETFs Are Paving a Rocky Road for Solana and Beyond
July 22, 2024
zkLink Announces Launch Of ZKL On Major Crypto Exchanges, Opens Claiming Window For Novadrop
Markets News Report Technology
zkLink Announces Launch Of ZKL On Major Crypto Exchanges, Opens Claiming Window For Novadrop
July 22, 2024
Bitfinex Alpha Analysis Highlights Bullish Signals Supporting Bitcoin’s Upward Momentum
Markets News Report Technology
Bitfinex Alpha Analysis Highlights Bullish Signals Supporting Bitcoin’s Upward Momentum
July 22, 2024
Wall Street Meets Blockchain: Backed’s Tokenized Stocks Change Investing in Tech Giants Microsoft, Tesla, and GameStop
Opinion Business Markets Software Technology
Wall Street Meets Blockchain: Backed’s Tokenized Stocks Change Investing in Tech Giants Microsoft, Tesla, and GameStop
July 22, 2024