Lisbon/Zurich: 17 January 2023 – Bison Digital Assets, Bison Bank’s crypto subsidiary licensed by Banco de Portugal, has partnered with Sygnum Bank to enter the global crypto market with regulated digital asset custody and trading services.
- Strategic partnership consolidates Bison Bank’s plan of bridging traditional finance and digital assets
by enabling Bison Digital Assets’ end-clients to conveniently buy, sell and hold cryptocurrencies like Bitcoin (BTC) and Ether (ETH) - Sygnum’s B2B platform offers Bison Digital Assets fast, modular access to Sygnum’s entire suite of regulated digital asset services
- Bison Digital Assets is Sygnum’s first European B2B banking client, joining 15 already on the platform
Bison Digital Assets, Bison Bank’s crypto subsidiary, announces a strategic partnership with Sygnum that empowers its end-clients to buy, sell and hold cryptocurrencies like Bitcoin (BTC) and Ether (ETH) in a fast, cost-effective manner. This future-proofs Bison Digital Assets’ offering, enabling the capture of more Share-of-Wallet from existing customers along with additional market share via access to the global crypto market.
Bison Digital Assets is the first ‘Virtual Asset Service Provider’ (VASP) in Portugal, fully owned by a bank, to receive approval from the Portuguese regulator, Banco de Portugal. It is also one of the few in Europe.
Bison Bank leverages Bison Digital Assets to securely hold customer digital assets and create a regulated bridge between the traditional and crypto finance worlds. Partnering with Sygnum is part of its strategic goal to deliver best-in-class services to crypto activated investors, institutions and High Net Worth Individual (HNWI) clients.
Sygnum’s B2B banking already enables 15 partners to create a regulated digital asset footprint under their own brand and retain full control of their client relationships. This expanded offering is underpinned by Sygnum’s and Bison Digital Assets’ robust compliance processes. Sygnum’s operational efficiency, as well as its ability to hold client crypto assets off balance sheet, will help minimize risk.
António Henriques, Bison Digital Assets’ CEO, comments “Financial institutions must adhere to the highest regulatory, compliance and security standards when offering cryptocurrencies to their client base. We are proud to partner with Sygnum and leverage their crypto-native expertise and established track record as we take our first steps in the digital asset market.”
“The ability for banks to innovate and continually expand client choice is key for them staying competitive and being future ready. Our B2B platform enables this at speed and with full compliance for Bison Digital Assets. This represents another trusted node in the expanding European crypto ecosystem, and we look forward to partnering with banks and bank-backed VASPs that empower their end-clients to invest in crypto with complete trust” says Fritz Jost, Sygnum’s Chief B2B Officer.