The Swiss voice in the world since 1935
Top stories
Stay in touch with Switzerland

Cryptoasset start-up backed by Swiss banking heavyweights

Paradeplatz by night
Sygnum's Swiss HQ is situated in the heart of Zurich's banking district. © KEYSTONE / GAETAN BALLY

Some of the doyens of the Swiss financial industry, including former Swiss National Bank president Philipp Hildebrand and ex-UBS CEO Peter Wuffli, have joined the cryptoasset revolution with new financial services operator Sygnum.

The Swiss-Singapore enterprise announced itself suddenly on Thursday after operating in stealth mode for months. It is aiming a broad suite of tokenised assets services for institutional investors. The so-called ‘token economy’ space, which digitises a range of financial assets for faster, more efficient trading, is rapidly gaining momentum around the world.

More

It is believed that the system can be adapted for any form of asset from company shares to securities, bonds and real estate. Putting such tokens on the blockchain promises either direct transfer between traders or more efficient matching and settlement through third party platforms, such as exchanges.

Swiss stock exchange SIX Group plans to tap into the market with a new digital exchange, while a range of new entrants, such as SEBA, have sprung up in Switzerland with the same intention.

SygnumExternal link, which has offices in Zurich’s Trust Square blockchain centre in the heart of the city’s banking district, is the latest newcomer to enter the scene.

“Printing shares”

According to its website, Sygnum is teaming up with Swiss tech start-up Daura that specialises in creating tokenised shares to enable small companies raise capital. The collaboration will enable small and medium sized enterprises (SMEs) to “print their shares” and trade them on the blockchain platform.

Sygnum has also entered into a partnership with state-owned telecoms company Swisscom and Zurich start-up Custodigit to help clients securely store digital assets.

Sygnum’s website also boasts of a liquidity platform to connect tokenised assets with a pool of traditional currencies. The enterprise also says it will provide a “selection of managed digital assets funds…leveraging both manager-specific skills as well as machine learning and artificial intelligence.”

In addition, clients will be offered an anti-money laundering/Know Your Customer (AML/KYC) “module” developed together with Swiss law firm MME.

It is unclear whether Sygnum has obtained any licenses from the Swiss or Singapore financial regulators or how soon the enterprise will be fully operational. Other blockchain financial institutions, such as Crypto Finance and SEBAExternal link, are also looking into establishing a presence in both Switzerland and Singapore.

Singtel Innov8, the venture capital arm of Singapore communications giant Singtel Group, has made an unspecified investment in Syngum.

Hildebrand, who joined investment management giant Blackrock after stepping down from the SNB in 2012, and Wuffli, now vice-chairman of Swiss private equity firm Partners Group, have lent their weight to the project as advisors. Peter Wuffli’s son, Beat, has joined Sygnum as head of tokenization.

The co-founders of the company are former Wegelin banker Manuel Krieger, Mathias Imbach, who was previously part of the RNT Associates fund of Indian business magnate Ratan Tata, and Gerald Goh, formerly of Singapore financial firm CrimsoNox Capital. 

Popular Stories

Most Discussed

News

A live scarecrow competition to thrill Denens (VD)

More

Live scarecrow competition set to thrill Swiss

This content was published on The Fête de l'Epouvantail (scarecrow festival) is celebrating its 30th anniversary and returns to Denens in canton Vaud for its seventh edition from July 10-20.

Read more: Live scarecrow competition set to thrill Swiss
Man dies in accident on toboggan run in Matten near Interlaken BE

More

Man dies on Swiss toboggan run

This content was published on A 35-year-old man has died in a work accident at the valley station of the Heimwehfluh toboggan run in Matten near Interlaken, canton Bern.

Read more: Man dies on Swiss toboggan run
The Swiss embassy in Tehran reopens

More

Swiss embassy in Tehran re-opens

This content was published on The Swiss embassy in Tehran re-opened on Sunday after being closed on June 20 owing to the unstable situation in the country.

Read more: Swiss embassy in Tehran re-opens
Queen of the Netherlands attends European Championship match in Lucerne

More

Euro 2025: Dutch queen cheers on team in Lucerne

This content was published on Queen Maxima of the Netherlands and her youngest daughter Princess Ariane attended the Netherlands' women's European Championship football match against Wales in Switzerland on Saturday.

Read more: Euro 2025: Dutch queen cheers on team in Lucerne
30-year-old charged with drone flight at Women's European Championships

More

Man charged with flying drone at women’s Euro 2025

This content was published on A man flew a drone around the venue on Wednesday evening during the first match of the Women's EURO 2025 in St. Gallen. The 30-year-old violated the absolute ban on flying during match days. He was reported to the police.

Read more: Man charged with flying drone at women’s Euro 2025
257 Swiss companies are members of the SBTi

More

More than 250 Swiss companies sign CO2 reduction initiative

This content was published on A total of 257 companies from Switzerland have signed up to the Science Based Targets Initiative (SBTi). In doing so, they are committing to CO2 reduction targets that are compatible with the Paris Climate Agreement.

Read more: More than 250 Swiss companies sign CO2 reduction initiative

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here . Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR