The gateways between the crypto world and the traditional money and banking system are not always smooth. One reason is that the settlement systems operate according to different principles and at different speeds.

Sygnum Bank aims to eliminate this friction. As the institution announced on Thursday, it is launching a new network that allows its customers to settle transactions in traditional currencies (fiat) and so-called stablecoins, which are their equivalent in the crypto scene, in real-time.

Crypto Exchange AsiaNext on Board

Part of the network are the crypto exchange AsiaNext, specialized in institutional clients, the broker Hidden Road, and the liquidity facility B2C2. According to the press release, Sygnum’s over 200 direct clients with high trading volumes will also have access to the new «Sygnum Connect» network.

According to Sygnum, this closes a gap and provides institutional clients with a «complete solution» delivering «the capital efficiency, on-demand liquidity and institutional-grade standards the digital asset ecosystem needs for future growth.» 

«With Complete Trust»

From the perspective of Kok Kee Chong, CEO of AsiaNext, the newly acquired ability to «instantly settle fiat, digital payment tokens, stablecoins and tokenised money market funds (used as collateral) 24/7, is a game-changer for institutional liquidity and capital efficiency.» He looks forward to leveraging the new possibilities for AsiaNext's clients and continuing close collaboration with Sygnum.

Thomas Eichenberger, who is responsible for the product as Chief Product Officer at Sygnum, sees it as 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.»