Portugal-based crypto subsidiary of Bison Bank taps Sygnum’s white label platform
“Financial institutions must adhere to the highest regulatory, compliance and security standards when offering cryptocurrencies to their client base. We are proud to partner with Sygnum and leverage their crypto-native expertise and established track record as we take our first steps in the digital asset market.”
Bison Digital Assets has partnered with Sygnum Bank in order to leverage its B2b platform to power end-clients to buy, sell and hold cryptocurrencies like Bitcoin (BTC) and Ether (ETH).
Bison Bank’s crypto subsidiary is the first ‘Virtual Asset Service Provider’ (VASP) in Portugal that is fully owned by a bank. It received approval from the Portuguese regulator, Banco de Portugal. It is also one of the few in Europe.
The Hong Kong-headquartered bank leverages the Portugal-based crypto entity, Bison Digital Assets, to securely hold customer digital assets and create a regulated bridge between the traditional and crypto finance worlds.
Bison Digital Assets caters to self-directed investors, institutions, and HNWIs
The partnership with Sygnum is part of its strategic goal to deliver best-in-class services to crypto activated investors, institutions and High Net Worth Individual (HNWI) clients.
The B2B platform enables the capture of more Share-of-Wallet from existing customers along with additional market share via access to the global crypto market, the firm explained.
Sygnum’s B2B banking platform already enables 15 partners to create a regulated digital asset footprint under their own brand and retain full control of their client relationships.
Sygnum offers white label platform to banks and bank-backed VASPs
António Henriques, Chief Executive Officer at Bison Digital Assets, commented: “Financial institutions must adhere to the highest regulatory, compliance and security standards when offering cryptocurrencies to their client base. We are proud to partner with Sygnum and leverage their crypto-native expertise and established track record as we take our first steps in the digital asset market.”
Fritz Jost, Chief B2B Officer at Sygnum Bank, said: “The ability for banks to innovate and continually expand client choice is key for them staying competitive and being future ready. Our B2B platform enables this at speed and with full compliance for Bison Digital Assets. This represents another trusted node in the expanding European crypto ecosystem, and we look forward to partnering with banks and bank-backed VASPs that empower their end-clients to invest in crypto with complete trust”.
