- Switzerland bank has released services for its blockchain token Tezos ( XTZ).
- Sygnum bank which prioritizes dealing with verified digital assets in Switzerland has launched its first range of services for its proof of stake blockchain token.
- The news came out today that the bank will allow people to both trade, stake, and have custody over XTZ tokens.
Switzerland bank launches new blockchain token services
Switzerland bank has released services for its blockchain token Tezos ( XTZ). Sygnum bank which prioritizes dealing with verified digital assets in Switzerland has launched its first range of services for its proof of stake blockchain token.
The news came out today that the bank will allow people to both trade, stake, and have custody over XTZ tokens. Now the organization’s clients can acquire awards by staking XTZ without a limit on the period that is usually at 5%.
Sygnum is regulated by the Swiss Financial Market Supervisory (FINMA) because it is a bank. The assets that the bank offers focus on B2B businesses.
David Fuchs, EMEA’s head of enterprise adoption, has crowned the move a validation of how far the company has come and a reminder that crypto is experiencing significant uptake from institutions and is on its way to becoming mainstream. Sygnum will also be utilizing the Taurus Group to keep deposits secure.
Sygnum is not the only bank to go crypto in Switzerland. Russia’s Gazprombank has a Switzerland branch that also went crypto.
The bank was approved by FINA to run to a specific affluent clientele. Soon Gazprombank will extend to include more clients.
They also hope to add more cryptocurrencies to their roster as they currently run only Bitcoin. Roman Abdulin, the company’s CEO, said they made a move because they believe that digital currency will grow to be more critical worldwide.
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