Swiss digital asset bank Sygnum secures in-principle approval to operate in Abu Dhabi – The National

Swiss digital asset bank Sygnum secures in-principle approval to operate in Abu Dhabi – The National

Switzerland’s digital asset bank Sygnum has received an in-principle approval from the Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA) to expand its operations in the UAE capital, tapping into increasing demand for cryptocurrencies in the region.

Sygnum’s new Middle East centre will serve the local market with a crypto-native suite of digital asset banking, asset management, tokenisation and B2B banking services regulated by Switzerland’s financial market supervisory authority (Finma), it said in a statement on Wednesday.

The company will seek clients ranging from blockchain firms moving to the UAE to existing local cryptocurrency foundations and projects, traditional institutional investors and high-net-worth individuals looking for trusted cryptocurrency asset exposure through a regulated partner.