Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: mlawson71 on September 16, 2019, 05:07:53 PM
-
Plans for Sygnum to obtain a banking and securities dealer license from Singapore regulators was revealed by the company’s co-founders Gerald Goh and Mathias Imbach. This new step forward for the company mirrors their recent achievement of being one of two first companies to to obtain a banking license in Switzerland from the Swiss Financial Market Supervisory Authority (FINMA).
As a regulated Swiss bank, Sygnum, a crypto company at its core, can, as of receiving its license, trade, store and manage Bitcoin and Ethereum.
The company has started negotiations with the local Singaporean regulators for a capital markets service license. The company has raised approximately 60 million in Swiss Francs that will serve them well during the whole operation. It is said that 85% of the employees of the firm are involved financially in the endeavor, plus some outside investors, most notably Singapore Telecommunications Ltd.
Source (https://deposit-withdraw.com/digital-asset-giant-sygmun-seeks-singapore-banking-license/)