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Sygnum, Swiss Crypto-Bank Stakes on Tezos (XTZ)

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Sygnum, Swiss Crypto-Bank Stakes on Tezos (XTZ)

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The cryptocurrency bank Sygnum is expanding its plans in the area of ​​digital assets. The latest offering for Tezos Blockchain XTZ tokens.

Sygnum a Very Effective Cryptocurrency Bank

Since the Financial Market Authority (FINMA) received the banking license from Sygnum, the first Swiss crypto bank to be supervised by Seba Bank has been supported by Six Group, a very active operator of the Swiss stock exchange. Indeed, it builds a bridge between the world of classic finance and the world of cryptocurrencies and maintains the consistency between other innovative initiatives. For this reason, a digital version of the Swiss franc (CHF) was released in March. Strictly equivalent (1 DCHF = 1CHF) implementation of the designation DCHF (Digital Swiss Franc). This regulated stablecoin was used for the first online transaction with a major Swiss retailer.

Building on their success, crypto banks continue to expand the scope of their proposals. That’s why she just announced the promise of XTZ tokens for the Tezos blockchain. Customers can already use deposits in traditional legal currency (Swiss Francs, Euros, US Dollars or Singapore) to securely buy, hold and trade XTZ and stakeholders directly from Sygnum. Annual compensation can be up to 5%, which is lower than the generosity rate elsewhere. However, it can also be tax reports and specialized childcare services for the assets held by XTZ loans.

XTZ, first to be Verified for Security and Longevity

For this purpose, the bank will use the secure storage infrastructure Protect from Taurus. She has just joined a Swiss financial technology company and has grown into one of the largest digital asset service providers in European financial institutions.

In order to provide this mortgage service to customers, Sygnum Bank became the validator of the Tezos network.

The Tezos sharing service provided by Sygnum aims to verify the security and longevity of the network. This is another step for institutions and companies that adopt the technology.

Following the recent collaboration between Tezos and the EDF subsidiary, the Tezos ecosystem has attracted new participants. The subsidiary is the first institution in France to conduct an institutional review of its blockchain.

With this new offer, Sygnum has further improved its multi-custodian platform. Besides, she has no intention of staying here. It is planned to add further mortgage tokens and further expand the range of B2B service is becoming a financial product like other currencies

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