The Swiss bank Sygnum, which specializes in digital assets, has opened an office in Lugano, the company announced on Thursday. With this move, the financial institution aims to expand its local services and foster closer collaboration with Lugano’s growing Bitcoin and digital ecosystem. A key focus will be Plan B, an initiative by the city of Lugano to promote blockchain technology.

Sygnum’s new office in the «Plan B HUB» in Lugano is intended to serve as a local access point for the growing number of clients, prospects, and partners from the Ticino region, according to further details. Sygnum’s client advisors will provide local access to the bank’s highly secure custody services, crypto-backed Lombard loans, and a range of other regulated services.

Initiative to Strengthen Partnerships

«Lugano’s commitment to digital assets makes the region a hub for Bitcoin innovations, especially in light of growing institutional acceptance, regulatory clarity, and recognition of Bitcoin as a safe haven,» said Martin Burgherr, Chief Client Officer of Sygnum (pictured below).

(Image: Sygnum)

Coinciding with the Plan B Forum in Lugano on October 25 and 26, 2024, Sygnum also announced the launch of Bitcoin@Sygnum. This is a company-wide initiative to strengthen partnerships in the Bitcoin ecosystem and promote new Bitcoin-related research and the development of Bitcoin-based products and technology integrations.

Collaboration with the City of Lugano

Overall, Sygnum’s office aims to intensify collaboration with the city of Lugano and foster innovations within the Bitcoin and digital ecosystem of Plan B. For around two years, Lugano has been focusing on digital assets, allowing residents to pay their municipal taxes and make payments at a large number of merchants using Bitcoin and other digital assets.

The goal of Lugano’s Plan B is to leverage Bitcoin technology to transform the city’s financial infrastructure and drive initiatives such as Bitcoin investment pools, sustainable mining, specialized educational programs, and leading Bitcoin events.

For More Blockchain Innovations

«The presence of Sygnum Bank in Lugano strengthens our shared commitment to making Lugano a key player in blockchain and financial innovation,» said Michele Foletti, Mayor of Lugano and President of the Plan B Foundation.

«It is no coincidence that institutions from both domestic and international markets are recognizing the potential here. Together, we can further expand the economic development of our city and provide added value to our population,» Foletti added.