Sygnum, a global digital asset banking group, just announced the launch of Sygnum Connect, a groundbreaking 24/7 multi-asset instant settlement network. This innovative platform is designed to streamline fiat, digital assets, and stablecoin transactions for institutional investors, liquidity providers, stablecoin issuers, brokers, and selected exchanges.
Revolutionizing Settlement in the Digital Asset Ecosystem
Sygnum Connect addresses a significant gap in the market by providing a comprehensive solution that offers capital efficiency, on-demand liquidity, and institutional-grade standards essential for the future growth of the digital asset ecosystem. Key features of the Sygnum Connect network include:
- Instant 24/7 Settlements: Provides immediate transaction settlements across fiat, digital assets, and stablecoins.
- Elimination of Counterparty and Settlement Risk: Ensures secure transactions between network members.
- Compliance with Swiss Regulatory Standards: Fully adheres to stringent legal and security requirements.
- Seamless Integration: Accessible via the Sygnum banking platform, APIs, and Fireblocks platform.
- Add-on Services: Includes Lombard loans, FX conversions, and stablecoin minting and redemption.
Sygnum Connect launches with a robust network of partners, including the regulated institution-only digital asset exchange AsiaNext, prime broker Hidden Road, and leading liquidity provider B2C2. Additionally, it connects to over 200 of Sygnum’s institutional high-volume trading clients.
Expanding Capabilities and Services
Initially, network members will have access to instant settlements in USD, EUR, CHF, and SGD, with plans to add settlements for a wide range of digital assets such as Bitcoin and Ethereum in Q3 2024. Sygnum Connect also offers simultaneous delivery-vs-payment transactions, on-demand Lombard loans, FX conversions, and stablecoin minting and redemption.
Traditional settlement processes often involve capital inefficiency, complexity, and delays, during which assets remain unavailable for investment or trade. Sygnum Connect overcomes these challenges, providing the capital efficiency, on-demand liquidity, and institutional-grade standards that professional and institutional market participants increasingly require.
The launch of Sygnum Connect coincides with a potential inflection point in institutional adoption, driven by factors such as Bitcoin spot ETFs, rising stablecoin flows, and Tier 1 asset managers moving more of their assets on-chain.
Integration with Fireblocks
Fireblocks, a digital asset infrastructure provider serving over 1,800 institutional clients, will fully integrate Sygnum Connect into their platform by Q3 2024. This integration will enable Fireblocks Network users to access fiat settlements, expanding and simplifying network access while avoiding the complexity of settling different types of assets through different platforms.
Endorsements from Key Industry Players
- Kok Kee Chong, CEO of AsiaNext: “The ability to instantly settle fiat, digital payment tokens, stablecoins, and tokenized money market funds 24/7 is a game-changer for institutional liquidity and capital efficiency.”
- Michael Higgins, Global Head of Business Development at Hidden Road: “Sygnum Connect’s 24/7 network will bring added speed, efficiency, and liquidity to the market, improving settlement for institutions.”
- Thomas Restout, CEO of B2C2 Group: “Joining Sygnum Connect strengthens B2C2’s instant settlement capabilities, providing our clients with industry-leading flexibility and speed.”
- Ran Goldi, SVP of Payments and Network at Fireblocks: “Integrating Sygnum Connect allows Fireblocks Network users to transfer fiat currencies in real-time, 24/7, providing greater capital efficiency for network participants.”
- Thomas Eichenberger, Chief Product Officer at Sygnum Bank: “Sygnum Connect makes transactions faster, cheaper, less risky, and more reliable, contributing significantly to traditional financial system connectivity.”
About Sygnum
Sygnum is a blockchain technology company and a founding entity of the Cardano blockchain, providing products and services to drive the adoption of Cardano’s Web3 ecosystem.
Image by Samuel Ferrara from Unsplash
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