Zuger Kantonalbank, Switzerland’s oldest cantonal bank with a legacy spanning 131 years, has entered into a strategic partnership with Sygnum to offer cryptocurrency services to its customers.
By doing so, Zuger Kantonalbank becomes the first Swiss cantonal bank to recognize and respond to the rising demand for cryptocurrency services among its clientele while maintaining its commitment to traditional banking values.
Sygnum’s B2B banking platform is regulated by FINMA
With this collaboration, Zuger Kantonalbank clients gain access to a diverse range of prominent cryptocurrencies, including Bitcoin, Ethereum, XRP, Polygon, and Uniswap. Sygnum’s advanced fiat-digital-asset gateway enables customers to seamlessly purchase and trade these digital assets using Zuger Kantonalbank’s e-banking and mobile banking app. Importantly, Sygnum’s multi-custody solution ensures the security and integrity of these assets while eliminating counterparty risks.
Sygnum’s B2B banking platform, underpinned by APIs and regulated by the Swiss Financial Market Supervisory Authority (FINMA), has been instrumental in enabling Zuger Kantonalbank to integrate cryptocurrency services into its existing framework. This platform offers a single point of entry for a wide range of regulated banking services and is characterized by its modular design, providing the flexibility to tailor services according to specific business strategies and the agility to scale and automate operations as needed.
Zuger Kantonalbank now joins an expanding community of financial institutions, including PostFinance and over 15 other Swiss and international banks, on Sygnum’s B2B platform. By partnering with Sygnum, these institutions can enhance their competitive positions, tap into a broader range of offerings for existing customers, and swiftly introduce new services to meet evolving market dynamics.
First Swiss cantonal bank to launch a regulated cryptocurrency offering
Hanspeter Rhyner, CEO Zuger Kantonalbank, said: “We are proud to be the first Swiss cantonal bank to seamlessly integrate traditional and crypto assets on our platform and make these future-ready investments available to our customers. Our partnership with Sygnum to build this advanced infrastructure is a solid foundation for our future development.”
Mathias Imbach, Sygnum Co-Founder and Group CEO, commented: “Sygnum Bank is pleased to partner with Zuger Kantonalbank and connect their clients to a new world of digital asset investment opportunities, empowered by complete trust. We believe that the future has heritage, and the combination of Zuger Kantonalbank’s 131 years of service excellence with Sygnum’s trusted gateway to Future Finance is a tangible example of this in action.”
Fritz Jost, Chief B2B Officer, Sygnum Bank, added: “From today, Zuger Kantonalbank’s customers have the power to buy a Bitcoin literally at their fingertips using their mobile banking app. We are delighted to join forces with Zuger Kantonalbank and enable them to be the first Swiss cantonal bank to launch a regulated cryptocurrency offering to their clients.”
