The post Sygnum Bank Multi-Asset Instant Settlement Sygnum Connect appeared on BitcoinEthereumNews.com.

The Sygnum Connect will operate 24/7 for eligible institutional investors designed to provide instant settlement for fiat, digital assets, and stablecoins. Sygnum Bank, a fast-growing digital asset bank founded on Switzerland and Singapore’s heritage, has announced the launch of a new product to enable instant fund settlement for eligible institutional investors dubbed Sygnum Connect.  According to the announcement, Sygnum Connect will operate throughout the week to enable instant settlement for digital assets, fiat currencies, and stablecoins. The solution offers various services including simultaneous delivery-vs-payment transactions, on-demand Lombard loans, FX conversions, and stablecoin minting and redemption. Already, the Sygnum Bank has enlisted several clients to the Sygnum Connect including AsiaNext, Hiden Road, and B2C2. The Sygnum Connect will also provide critical fund settlement services to more than 200 clients of the Swiss-based crypto bank. To begin with, the system will support USD, CHF, EUR, and SGD. Meanwhile, the Sygnum Bank indicated that the support for digital assets led by Bitcoin (BTC), Ethereum (ETH), and stablecoins will be available before the end of the third quarter, of 2024. “Sygnum Connect solves an important piece of the settlement puzzle by making transactions between participants in the global crypto ecosystem faster, cheaper, less risky, and more reliable. Sygnum Connect is making a significant contribution to traditional financial system connectivity by empowering professional and institutional market participants to invest and transact in the digital asset economy with complete trust,” Thomas Eichenberger, Chief Product Officer at Sygnum Bank, noted. 📣 News: Sygnum launches Connect 24/7 Multi-Asset Instant Settlement Network https://t.co/JByMWu1aO3 ▪️ First network to offer 24/7 free instant settlement for fiat, #digitalassets and #stablecoins▪️ Launches with existing institutional network, including regulated institution… — Sygnum Bank (@sygnumofficial) July 11, 2024 Sygnum Connect and Market Outlook The launch of the Sygnum Connect coincides with the ongoing mainstream adoption…

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Filed under: News - @ July 13, 2024 10:26 am