Sygnum opens location in Abu Dhabi
Zurich/Abu Dhabi - The Zurich-based crypto bank Sygnum has opened a subsidiary in Abu Dhabi. It hopes to grow across the Middle East from this location, where it will provide cryptocurrency services that meet Swiss regulations.
According to a press release, Sygnum has opened a subsidiary in Abu Dhabi. The Zurich-based crypto bank received the required approval from the local authorities to do so. The bank is located in the international finance center Abu Dhabi Global Market. It should serve as a base for the bank’s growth in the Middle East.
In particular, Sygnum plans to enable customers in the Middle East to access services that meet Swiss regulations. Its offering comprises asset management, digital systems, tokenization, and B2B banking. It is aimed not only at crypto companies but also traditional institutional investors and wealthy individuals.
Sygnum Bank Middle East’s Senior Executive Officer, Giulia Finkbeiner-Bertoni, commented: “The UAE has a proactive investment program, a progressive crypto regulatory framework and a dynamic, tech-driven economy.” The bank sees great potential for its services in the region. Abu Dhabi has the largest economic growth of the entire Middle East and North Africa region (MENA). Additionally, 35 percent of the population has already invested in cryptocurrency products. ssp