The crypto bank Sygnum is launching innovative banking services for decentralized finance (DeFi) tokens, details of which can be found in a press release. In specific terms, Sygnum will be offering a solution for institutional-grade custody and regulated trading of “leading” DeFi tokens, the press release explains. These include, for example, Aave, Aragon, Curve, Maker, Synthetix and Uniswap. Moreover, the crypto bank will also offer services for the leading DeFi area stablecoin USD Coin.
Decentralized finance tokens are based on public blockchains and work without the need to include intermediaries. They are designed to increase the efficiency of various applications in the financial sector. Sygnum expects that DeFi tokens will play a key role in the future of financial services. With its new services, Sygnum is taking a step towards its goal of bridging the gap between centralized and decentralized finance.
In 2019, Sygnum was awarded a bank and securities dealer license by the Swiss Financial Market Supervisory Authority (FINMA), making Sygnum the world’s first bank for digital assets in the process.