Sygnum, a digital asset banking group based in Switzerland, has successfully registered its local subsidiary with the financial regulator in Liechtenstein. This pivotal move enables the company to provide regulated services within the European Union and the European Economic Area (EEA) in accordance with the forthcoming MiCA framework. As Sygnum sets its sights on further expansion in Asia, particularly in Hong Kong and Singapore, it continues to enhance its global footprint through strategic alliances and notable financial achievements.
**Sygnum Broadens European Presence with Liechtenstein Crypto License**
On Monday, Swiss digital asset banking group Sygnum revealed a significant advancement in its European growth strategy by registering its local subsidiary with the Liechtenstein Financial Market Authority (FMA). The announcement highlighted that this registration permits Sygnum to deliver regulated digital asset services, including brokerage, custody, and B2B banking, specifically to the Liechtenstein market.
"By establishing a presence in an EEA member state, Sygnum can take advantage of the country's harmonized regulations with the EU, particularly with the upcoming Markets in Crypto-Assets Regulation (MiCA)," the announcement elaborated.
This initiative is part of Sygnum’s larger strategy to extend its reach throughout the European Union and the EEA, with complete access to all 30 markets anticipated by early 2025 under MiCA. This development is significant as it allows Sygnum to provide its regulated services more broadly, leveraging Liechtenstein’s aligned regulatory framework with the EU.
The EEA comprises EU member states along with three countries—Liechtenstein, Norway, and Iceland—that adhere to EU laws and regulations while preserving their independence from direct EU membership. Martin Burgherr, Sygnum’s Chief Clients Officer, remarked that this registration represents a vital step in expanding the bank's services within this region, especially as MiCA takes effect. Burgherr expressed enthusiasm about Sygnum’s expansion into Liechtenstein, a nation recognized for its progressive stance on financial innovations and digital assets.
Alongside its European ambitions, Sygnum is also actively pursuing growth opportunities in Asia, including plans for expansion into Hong Kong and further enhancement of its services via its platform based in Singapore.
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