Key Points
- Sygnum has registered its subsidiary with Liechtenstein’s financial regulator, positioning itself to offer regulated crypto services across all 30 EU and EEA markets by Q1 2025.
- This move is part of Sygnum’s multi-regional expansion strategy, which includes plans for Hong Kong and leverages its regulated crypto brokerage in Singapore.
Liechtenstein Registration Paves Way for EU Expansion
Swiss-Singaporean digital asset banking group Sygnum has taken a significant step towards expanding its European presence. The company announced on September 23, 2024, that it has successfully registered its local subsidiary with Liechtenstein’s financial regulator, FMA. This strategic move allows Sygnum to offer its regulated digital asset services, including brokerage, custody, and B2B banking, in the Liechtenstein market.
The registration is particularly noteworthy as it positions Sygnum to leverage Liechtenstein’s harmonized regulations with the EU, including the upcoming Markets in Crypto-Assets Regulation (MiCA). This alignment sets the stage for Sygnum to expand its services across all 30 EU and European Economic Area (EEA) markets by Q1 2025.
Capitalizing on Liechtenstein’s Progressive Crypto Regulations
Liechtenstein has established itself as a hub for digital asset and blockchain innovation since the implementation of its Token and Trusted Technology Service Provider Act (TVTG) in early 2020. This comprehensive regulatory framework for digital assets has made Liechtenstein an attractive gateway for companies like Sygnum looking to offer regulated crypto services in the EU.
Martin Burgherr, Sygnum’s Chief Clients Officer, expressed enthusiasm about the expansion, stating, “We are excited to announce Sygnum’s expansion into Liechtenstein, a country known for its forward-thinking approach to innovations in finance and digital assets.”
Global Expansion and Recent Milestones
Sygnum’s move into Liechtenstein is part of a broader global expansion strategy. The company has plans to enter the Hong Kong market and increase its footprint through its regulated digital asset financial services platform in Singapore. This follows previous expansions into Luxembourg in 2022 and Abu Dhabi in 2023.
The company has also reported significant growth in recent months. In January 2024, Sygnum raised over $40 million in an oversubscribed financing round, reaching a valuation of $900 million. The group now boasts more than $125 million in core equity capital. Sygnum has also launched several notable initiatives, including a partnership with PostFinance to launch a crypto service, collaborations with Hamilton Lane and Fidelity on tokenization projects, and the introduction of Sygnum Connect, a 24/7 multi-asset settlement network.
As Sygnum continues to expand its regulated offerings and explore new markets, its registration in Liechtenstein marks a crucial step in its ambition to become a leading player in the European crypto services landscape.
