According to a press release published on 15 June, Sygnum has launched regulated banking services for leading DeFi tokens, including Aave (AAVE), Aragon (ANT), Curve (CRV), Maker (MKR), Synthetix (SNX), Uniswap (UNI), and 1inch Network (1INCH). Aside from the seven new DeFi tokens, the bank has also added support for Circle’s USDC stablecoin.
The first phase will enable Sygnum clients to invest directly in these tokens and access a full suite of banking services, including institutional-grade custody, transfer, and trading services. In the following phases, Sygnum will offer a suite of yield-aggregating products and services, as well as an asset management offering. Sygnum’s clients will also be able to receive custom solutions, which the bank will develop with selected DeFi partners.
Thomas Eichenberger, the Head of Business Units at Sygnum Bank, said that the innovations in the DeFi space have the potential to transform many of the existing traditional use cases in the financial industry and create new digital asset products.
“As Sygnum is a genuine trendsetter of the modern banking world, we believe this partnership will bring great value for both counterparts,” said Sergej Kunz, the co-founder of 1inch Network. “For its private qualified and institutional clients, Sygnum becomes a convenient gateway to the enormous DeFi market with lots of new opportunities.”