The financial service regulatory, Abu Dhabi Global Markert’s (ADGM) announced giving permission for Sygnum, a Zurich-based digital asset bank, to start Sygnum Bank Middle East in UAE market.
The step came amid an increase in demand on crypto services in the region.
Through the new Sygnum Bank Middle East, the UAE will be able to exploit Sygnum trusted digital asset services, including asset management, tokenization and B2B banking services, to Abu Dhabi and the region.
Giulia Finkbeiner-Bertoni will be senior executive officer of Sygnum, according to The National.
As a fast-growing international financial center in the region, ADGM mission is to diversify the UAE’s economy and link between MENA and South and East Asia markets.
After the recent collapses of crypto banking moguls in the United States , the Swiss digital asset bank is getting many partnership offers from international crypto firms.
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