Sygnum awarded Abu Dhabi in-principle approval

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23.11.2022
Abu Dhabi

Despite a challenging market, Sygnum has continued to grow its global client base to near 1,500 and team to over 200. By launching activities in Abu Dhabi, the digital asset bank taps into one of the world’s largest wealth and asset management pools.

Sygnum has received an in-principle approval from the Abu Dhabi Global Market’s (ADGM)Financial Services Regulatory Authority (FSRA). Sygnum’s new Middle-East hub will serve the local market with a crypto-native suite of digital asset banking, asset management, tokenization and B2B banking services regulated by FINMA in Switzerland. Target clients will range from blockchain firms moving to the UAE for its well-regulated crypto environment to existing local crypto foundations and projects to “traditional” institutional investors and HNWI looking for trusted crypto asset exposure through a regulated partner.

The UAE is fast becoming a global crypto hub, with the fifth-highest global crypto adoption at 34 per cent and annual transactions of more than USD 25bn. Sygnum’s Abu Dhabi licence and local presence will enable direct access to its established wealth management market, supportive government and clear regulatory framework – as well as the opportunity to pioneer regulated crypto services in the region.

Sygnum’s designated UAE Senior Executive Officer Giulia Finkbeiner-Bertoni says “I am excited to join the global Sygnum team and introduce our vision for Future Finance to the Abu Dhabi financial community. I believe that Sygnum’s core value of trust and its ability to build relationships will be an asset for years to come in this region.”

(Press release / SK)

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