Sygnum Bank offering Dfinity's ICP token custody

Wednesday 19 May 2021 13:18 CET | News

The Switzerland-based cryptocurrency bank Sygnum has announced offering custody and banking services for Internet Computer (ICP) usage tokens. 

ICP holders will be able to deposit their tokens on the bank's institutional segregated wallets. In the second phase of ICP support, Sygnum plans to offer a range of banking services for the token, including spot trading and options trading. The bank also aims to offer Sygnum Lombard loans for ICP in the future, allowing customers to receive liquidity in exchange for ICP tokens.

The ICP project was founded by the Swiss non-profit scientific research organization Dfinity Foundation. Internet Computer is a decentralised blockchain project aiming to expand the functions of the public Internet and move from standard Internet protocols to a publicly accessible global computer based on its own ICP protocol. According to a Sygnum representative, the company believes that the decentralisation and openness of the Internet computer will lead to innovations in connection with Internet services, software platforms and user experience.

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Keywords: product launch, cryptocurrency, Token, e-wallet
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Switzerland
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Blockchain & Cryptocurrencies

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