VZ VermögensZentrum and Sygnum Bank, which specializes in digital assets, are entering into a partnership for digital services and the business with cryptocurrencies. With this move, VermögensZentrum aims to expand its offering around digital asset services and products.
The Swiss financial services company, which is listed on the SIX Swiss Exchange, will expand its range of regulated services for bank-grade digital assets. VZ VermögensZentrum's clients will now be able to securely buy, hold and trade various leading cryptocurrencies such as Bitcoin and Ethereum, as well as access a range of regulated wealth management services.
Demand for digital assets
The total market capitalization of cryptocurrencies has now reached nearly $3 trillion, driven by ever-growing adoption by institutions and increasing legal certainty around the world. The high demand for crypto assets offers banks and asset managers the opportunity to partner with established firms in the field to expand their product offerings and become active in this dynamic asset class.
"We look forward to giving even more banks the opportunity to connect with our modular one-stop-shop offering - custody, brokerage, asset management, lending and tokenization. We continue to embrace innovation and foster partnerships like this to help our partners bridge the gap between the traditional fiat world and the regulated digital asset ecosystem." - Fritz Jost, Chief B2B Officer, Sygnum Bank
VZ VermögensZentrum's core services are wealth management, retirement and estate planning for individuals and insurance and pension fund management for companies. The partnership provides the financial services provider and its clients with efficient and secure access to a wide range of digital asset products and services. Being a fully regulated digital asset specialist with a Swiss banking license, Sygnum is one of the few global banks that can provide a secure bridge between traditional finance and digital assets.
B2B banking platform from a single source
VZ VermögensZentrum joins other crypto bank B2B partners in offering clients trusted, secure, compliant and seamless access to cryptocurrencies and digital assets.
"Working with Sygnum provides us with the opportunity to incorporate their perspective into the further development of the products we offer and provide our clients with the ability to invest in this new asset class in a convenient, secure and regulated manner." - Marc Weber, CEO VZ Depotbank
He said VZ VermögensZentrum is always interested in innovative solutions in the financial sector in order to increase competitiveness and meet rapidly changing client needs. This demand is also increasingly evident in Switzerland, and with clear framework conditions, banks are well-positioned to include digital assets in their offerings.
