Global: Sygnum seeks UAE regulatory licence

Sygnum, a digital assets bank, has announced it is seeking a regulatory licence in the UAE.

Sygnum operates a regulated digital asset banking platform across fiat accounts and payments, digital asset custody, transfers, staking, trading, lending, and an end-to-end tokenization solution covering primary market issuance and secondary market trading capabilities. Sygnum integrates major currencies and digital assets including Bitcoin, Ethereum, a digital CHF into one account.

Sygnum digital assets bank has raised USD 150 million since its inception. It lately raised USD 90 million Series B Fund which they had stated would be used to accelerate the expansion of Web3.0 and their offerings into new global markets.

Sygnum now has the backing of Hong Kong-based Animoca Brands that has a sizeable reach in the worlds of non-fungible tokens (NFTs) and the Metaverse.