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Swiss Cryptocurrency Bank Sygnum Obtains Full License for Brokerage Services from Mas

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To increase its presence in Singapore, in October 2, Sygnum’s Singapore Branch received a full license from the MAS (Monetary Authority of Singapore).

As a result, Sygnum can launch its DPT brokerage platform to certified investors and institutions.

In 2018, Sygnum was incorporated in Switzerland and Singapore, declaring that it has established a brokerage platform.

The platform enables accredited institutions and investors like family offices and investment companies to transact in various cryptocurrencies.

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Also in 2019, the capital markets services license was granted, which enabled Sygnum Singapore to provide cryptocurrency financial services.

However, on October 3 2023, the CEO and co-founder of Sygnum Singapore, Mr Gerald Gog, revealed to a reliable news outlet that the brokerage services are “LIVE”.

He also stated that customers can now buy and sell the digital payment token immediately after being onboard.

In Brief

  • Following the approval of a full license by the country’s regulators, MAS, Sygnum, the Singapore branch of the Swiss digital asset bank, can now launch its DPT brokerage services in Singapore.
  • Sygnum applied to the Monetary Authority of Singapore for a full payment institution license in April of 2021, just like other companies.
  • However, they secured the full license four months after Signum received the in-principle approval, making them one of the market players to obtain a speedy full license.
  • With this new full license from MAS, Sygnum can incorporate digital payment token brokerage services into its digital assets financial services.
  • These services include asset management, provision of custodial services, dealing in capital market products, and corporate finance advisory.
  • Meanwhile, the central bank has already granted the Digital Token Payment Services license to Ripple Labs, Circle, Coinbase, and Revolt.

What’s Happening In Crypto Today?

At the time of this writing, the price of Bitcoin is at $27,490.87, with a slight drop in market cap by 2.96% and a slight increase in trading volume by 3.14%.

On the side of Ethereum, its current price is at $1,658.02, with a drop in market cap by 4.07% and an increase in trading volume by 4.15%.

  • Meanwhile, Cardano is selling at $0.2622, with a drop in market cap by 1.92% and a drop in trading volume by 2.64%.
  • Dogecoin trades at $o.06176, with a drop in market cap by 3.01% and a slight increase in trading volume by 0.89%.
  • On the side of TRON, it is currently priced at $0.08772, with a slight decrease in market cap by 1.92% and an increase in trading volume by 10.21%.
  • Toincoin is now trading at $2.04, with a slight drop in market cap by 1.65% and a decline in trading volume by 34.71%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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