After receiving in-principle approval for the MPIL (Major Payment Institution License) in June of this year, Sygnum Singapore has successfully completed the licensing process. Subsequently, it has been granted the necessary licence to initiate its regulated Digital Payment Token (DPT) brokerage service in Singapore. The platform offers a seamless interface for converting between fiat currency and digital assets, as well as facilitating trade execution for a variety of cryptocurrencies. It is characterised by competitive spreads, deep liquidity, fast trade settlements, live balance updates, and real-time quotes.
According to Sygnum, the bank has amassed more than CHF 3.2 billion in Assets Under Management (AuM) and serves more than 1,600 clients hailing from over 60 countries. Its client base includes institutional investors, accredited investors, banks, financial institutions, and Distributed Ledger Technology (DLT) foundations. The company has extended its regulated operations to Luxembourg and Abu Dhabi.
The MPIL represents a step forward in Sygnum's expansion strategy in Singapore and the broader region. Moreover, it opens up new avenues for the distribution of Sygnum's established and trusted regulated offerings to strategic investors.
Officials from Sygnum Singapore commended the Monetary Authority of Singapore (MAS) for its progressive approach to regulating digital assets. They highlighted recent MAS guidelines on stablecoins as a clear and constructive framework for the industry, providing investors with confidence in digital asset exposure.
Sygnum Singapore already holds a Capital Markets Services licence, which it obtained in 2019. With the addition of the MPIL, the company expands its range of fully regulated digital asset financial services, which encompass asset management, corporate finance advisory, capital market product dealing, and custodial services.
Sygnum is a digital assets bank that serves professional and institutional investors, banks, corporations, and DLT foundations, with the aim of offering them secure access to the digital asset economy. The company's suite of services includes crypto banking, asset management, tokenization, and B2B banking.
Sygnum is a licensed Swiss bank and operates under regulatory oversight in several global financial hubs, including Singapore, Abu Dhabi, and Luxembourg. The company sees itself as a bridge between traditional and digital asset economies, aiming to build a trusted and regulated future for finance.
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