Sygnum, a global digital asset banking group based in Switzerland and Singapore, has taken an essential step in its European expansion by registering its subsidiary in Liechtenstein with the local financial regulator, FMA. This registration allows Sygnum to offer regulated digital asset services to the Liechtenstein market, including brokerage, custody, and B2B banking.
With a presence in Liechtenstein, a member of the EEA, Sygnum can take advantage of the country’s laws that are in compliance with the EU laws, such as the future MiCA. Martin Burgherr, the Chief Clients Officer of Sygnum, said they are looking forward to their entry into Liechtenstein, which is famous for its liberal outlook on finance and digital assets. He stressed that this registration will result in significant growth prospects in the EU, the world’s largest trading partner.
Sygnum Prepares for MiCA Regulation Ahead of 2025 Integration
Since the Parliament passed the Token and Trusted Technology Service Provider Act (TVTG) in October 2019, Liechtenstein has emerged as a pioneer in regulating digital assets. This framework has placed the country at the centre of the digital asset innovation ecosystem. Since the early adoption of the TVTG in early 2020, Liechtenstein has emerged as an ideal entry point for firms such as Sygnum that want to operate in the European market offering regulated crypto services.
The establishment of Sygnum in Liechtenstein is part of the bank’s European market plan, unveiled earlier this year. The bank is also ready for the MiCA regulation, which will be integrated into the Liechtenstein laws by Q1 2025 and grant access to the 30 EU and EEA markets.
For the Asia market, Sygnum aims to establish its presence in Hong Kong while strengthening its operations in Singapore. It has entered Luxembourg before and has made it possible to access Swiss-regulated services in Abu Dhabi. Recently, Sygnum announced its financial result for the first half of 2024 and its progress in the most crucial business indicators, such as issuing a $50 million Bitcoin-backed loan, making it the world’s first regulated bank.
