Sygnum, SEBA Crypto clinch Swiss banking licences

Singapore

SWITZERLAND and Singapore-focused tokenisation startup Sygnum has clinched one of two conditional banking and securities dealers' licences in Switzerland, the first time that the European country's Financial Market Supervisory Authority (Finma) has given the go-ahead to pure-play blockchain service providers.

The other licence recipient is SEBA Crypto, which is registered in Zug. Sygnum is registered in Zurich but also counts Singapore as a key market. Sygnum's existing investors include Singtel Innov8, the venture arm of telco Singtel.