Through this initiative, Moomoo Singapore became Sygnum’s first distribution partner for an asset management product. The company can now offer its multi-manager fund to accredited investors operating on the moomoo platform. According to Moomoo Singapore, considering that digital assets entered the mainstream and their adoption has increased, the majority of high-net clients view digital assets as a substantial component of a resilient portfolio. In addition to demanding diversification, these clients want to capitalise on the growth potential of this asset class. The partnership with Sygnum is set to deliver on this request, equipping investors with the ability to actively manage and maximise the returns on their investments.
Furthermore, the recognition of managed crypto funds has further scaled in 2024 after the Securities and Exchange Commission (SEC) approved Bitcoin and Ethereum ETFs back at the beginning of the year. As investors can face several issues when navigating the crypto asset market, Sygnum highlighted its commitment to supporting any individual in their investment journey in digital assets. By partnering with Moomoo, the company aims to further advance the digital asset space and support its clients in managing their exposure to this asset class.
The collaboration with Moomoo comes just a few months after Sygnum introduced a web3 wallet recovery module built on Safe, utilising the capabilities of the Safe{RecoveryHub} ecosystem. This move allowed the company to restore access to users’ wallets when designated as a recoverer on the ecosystem. Through this, Sygnum underlined its focus on secure and compliant crypto self-custody, introduced in partnership with Safe, with the wallet recovery service addressing significant issues in the cryptocurrency space by providing an option for owners to regain control over their assets while minimising the risks associated with key loss.
Moreover, a year before this, more specifically in October 2023, Sygnum secured a Major Payment Institution Licence (MPIL) from the Monetary Authority of Singapore (MAS). This authorisation allowed the company to initiate its regulated Digital Payment Token (DPT) brokerage service in Singapore, with the platform delivering a simplified interface for converting between fiat currency and digital assets. Also, it facilitated trade execution for several cryptocurrencies.
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