Swiss digital asset bank Sygnum expands its services to Abu Dhabi
Swiss digital asset bank Sygnum leverages its oversubscribed USD 90m Series B to expand internationally into Abu Dhabi’s high-growth crypto-hub. The bank “has received an in-principle approval from the Abu Dhabi Global Market’s Financial Services Regulatory Authority (“FSRA”), tapping into increasing demand for cryptocurrencies in the region.
Sygnum’s new Middle-East hub will serve the local market with a crypto-native suite of digital asset banking, asset management, tokenization and B2B banking services regulated by FINMA in Switzerland. Target clients will range from blockchain firms moving to the UAE for its well-regulated crypto environment to existing local crypto foundations and projects to “traditional” institutional investors and HNWI looking for trusted crypto asset exposure through a regulated partner.
Abu Dhabi Global Market legal team is headed by Eyad Mahadeen (pictured left), chief legal officer and board secretary
Sygnum legal department is headed by Zurich based Gino Wirthensohn, chief legal, compliance & RegTech officer, member of the Group Executive Board.