- First community to supply 24/7 free on the spot settlement for fiat, digital belongings and stablecoins
- Launches with current institutional community, together with regulated digital asset trade AsiaNext, prime dealer Hidden Road, liquidity supplier B2C2 and connectivity to 200+ of Sygnum’s high-volume buying and selling shoppers.
- Focused on enhancing capital effectivity and on-demand liquidity for skilled and institutional market contributors in Sygnum’s European and Asian house markets.
- Fireblock’s 1,800 institutional shoppers may even have the ability to entry Sygnum Connect fiat
settlements by way of the Fireblocks platform. - Eliminates counterparty and settlement dangers between members and is totally compliant
with stringent Swiss regulatory, authorized and safety requirements.
Sygnum, a worldwide digital asset banking group, publicizes the launch of Sygnum Connect, its 24/7 multi-asset on the spot settlement community. The community settles fiat, digital belongings and stablecoin transactions for institutional traders, liquidity suppliers, stablecoin issuers, brokers and chosen exchanges. Sygnum Connect fills the present trade hole for an entire answer that delivers the capital effectivity, on-demand liquidity and institutional-grade requirements the digital asset ecosystem wants for future progress.
Sygnum Connect on the spot settlement community:
- Fiat, digital asset and stablecoin settlements in a single institutional-grade platform
- Instant 24/7 settlements, free between community members
- Eliminates counterparty and settlement danger between community members
- Fully compliant with stringent Swiss regulatory, authorized and safety requirements
- Conveniently accessed by way of the Sygnum banking platform, APIs and the Fireblocks platform
- Add-on providers embody Lombard Loans, FX conversions and stablecoin minting and redemption
Sygnum Connect launches with a powerful current companion community, together with regulated institution-only digital asset trade AsiaNext, prime dealer Hidden Road and main liquidity supplier B2C2, along with connectivity to greater than 200 of Sygnum’s institutional high-volume buying and selling shoppers.
Network members have entry to on the spot USD, EUR, CHF and SGD fiat settlements, with settlements for a variety of digital belongings like Bitcoin, Ethereum and stablecoins being added in Q3 2024. The community’s scope is additional expanded by a spread of Sygnum Connect add-on providers, together with simultaneous delivery-vs-payment transactions, on-demand Lombard loans, FX conversions, and stablecoin minting and redemption.
Traditional settlement processes typically contain capital inefficiency and add pointless complexity and delays, throughout which period belongings are unavailable for funding or commerce. Before the launch of Sygnum Connect, there was no on the spot multi-asset settlement community offering the capital effectivity, on-demand liquidity and institutional-grade requirements that skilled and institutional market contributors more and more require.
This launch coincides with a possible institutional adoption inflection level, pushed by components like Bitcoin spot ETFs, rising stablecoin flows and Tier 1 asset managers transferring extra of their belongings on-chain.
Fireblocks, a digital asset infrastructure supplier with over 1,800 institutional shoppers, will totally combine the Sygnum Connect community into their platform in Q3 2024. This will allow community members, who’re additionally direct Fireblocks customers, to entry fiat settlements by way of the Fireblocks Network, an enterprise-grade digital asset switch platform for fast digital asset transactions and dynamic fee workflow. This will considerably develop and simplify community entry and keep away from the added complexity of settling various kinds of belongings by way of completely different platforms.
Kok Kee Chong, Chief Executive Officer at AsiaNext, says, “The ability to instantly settle fiat, digital payment tokens, stablecoins and tokenised money market funds (used as collateral) 24/7, is a game-changer for institutional liquidity and capital efficiency. AsiaNext is excited to leverage Sygnum Connect for our trading members, and we look forward to collaborating closely moving forward.”
Michael Higgins, Global Head of Business Development at Hidden Road, says “Digital asset market structure is undergoing an important transformation as it matures to meet the needs of institutional investors. Sygnum Connect’s 24/7 network across fiat and digital assets will bring added speed, efficiency and liquidity to market – priorities that Hidden Road and Sygnum share – and has the potential to improve settlement for institutions.”
Thomas Restout, B2C2 Group Chief Executive Officer, says “We are excited to join the Sygnum Connect Network, strengthening B2C2’s 24/7/365 instant settlement capabilities. This partnership with a major global digital asset banking group provides an additional channel for instant, multi-asset settlement. It represents another step forward in providing our clients with the industry-leading flexibility and speed necessary for navigating the dynamic digital asset market.”
Ran Goldi, Senior Vice President, Payments and Network at Fireblocks, says, “Payments have historically been bound by traditional 9-to-5 banking systems, as well as manual settlements and payouts, which have hampered the ability of businesses to move in and out of positions, as well as transfer funds, quickly. By integrating Sygnum Connect, Fireblocks Network users will be able to transfer fiat currencies between each other in real-time, 24/7, eliminating the need to wait for settlements to clear with counterparties and providing greater capital efficiency for network participants.”
Thomas Eichenberger, Chief Product Officer at Sygnum Bank, provides, “Sygnum Connect solves an important piece of the settlement puzzle by making transactions between participants in the global crypto ecosystem faster, cheaper, less risky and more reliable. Sygnum Connect is making a significant contribution to traditional financial system connectivity by empowering professional and institutional market participants to invest and transact in the digital asset economy with complete trust.”