Sygnum, a global digital asset banking group, has recently launched Sygnum Connect, the world’s first 24/7 multi-asset instant settlement network. This service caters to institutional investors, liquidity providers, stablecoin issuers, brokers, and selected exchanges by facilitating settlements for fiat, digital assets, and stablecoins. Sygnum Connect effectively resolves the T+1 synchronization problem for thousands of institutions, significantly reducing counterparty risk and enhancing capital market efficiency. The network offers instant, 24/7 settlements, free of charge between network members, and eliminates counterparty and settlement risks while fully complying with Swiss regulatory, legal, and security standards.
With a strong institutional backing, Sygnum has already onboarded over 2,000 institutional clients, including major names like Revolut, Worldpay, BNP Paribas, BNY Mellon, and eToro. The network launches with existing partners like regulated digital asset exchange AsiaNext, prime broker Hidden Road, and liquidity provider B2C2, along with connectivity to more than 200 of Sygnum’s high-volume trading clients. Thomas Eichenberger, Chief Product Officer at Sygnum Bank, highlighted the importance of Sygnum Connect in empowering professional and institutional market participants to invest and transact in the digital asset economy with complete trust.
Sygnum Connect offers instant, 24/7 settlements for fiat, digital assets, and stablecoins, eliminating counterparty and settlement risks between network members. It operates in full compliance with stringent Swiss regulatory, legal, and security standards and provides access through the Sygnum banking platform, APIs, and the Fireblocks platform. Additional services such as Lombard loans, FX conversions, and stablecoin minting and redemption are also available. Members can access instant settlements in USD, EUR, CHF, and SGD fiat currencies, with more digital assets like Bitcoin, Ethereum, and stablecoins expected to be added in Q3 2024.
The ability to instantly settle fiat, digital payment tokens, stablecoins, and tokenized money market funds 24/7 is seen as a game-changer for institutional liquidity and capital efficiency. Kok Kee Chong, CEO at AsiaNext, expressed excitement about leveraging Sygnum Connect for their trading members and looks forward to collaborating closely moving forward. The launch of Sygnum Connect comes at a time of potential institutional adoption inflection point, driven by factors such as Bitcoin spot ETFs, rising stablecoin flows, and Tier 1 asset managers moving more assets on-chain. Sygnum Connect aims to provide a stabilizing force amidst market volatility, offering a comprehensive, efficient, and secure solution for the digital asset market.
Traditional settlement processes often involve capital inefficiency and unnecessary complexity and delays, during which assets are unavailable for investment or trade. Before the launch of Sygnum Connect, there was no instant multi-asset settlement network providing the capital efficiency, on-demand liquidity, and institutional-grade standards that professional and institutional market participants increasingly require. Sygnum Connect fills this industry gap by delivering a comprehensive solution that addresses the needs of the evolving digital asset ecosystem and offers a transformative solution for financial operations with efficient, on-demand liquidity.
