The bank recently invested in the Swiss fintech company Taurus Group SA, which specializes in digital assets, as part of a Series A financing round.Last September, the Bank launched a full range of services for Bitcoin and Ethereum. According to the new announcement, it now plans to add Ripple (XRP) to its offering next month.The financial industry of tomorrow will leverage the blockchain technology both via traditional asset tokenization and digital assets. We are excited to invest in the leading Swiss fintech offering an outstanding digital asset infrastructure, thus contributing to a much needed evolution of our industry.
Swiss Sygnum Bank, which describes itself as the world’s first digital asset management bank and holds both a Swiss banking license and a Singapore asset management license, has announced its support for the XRP token.
Mathias Imbach, co-founder of the world’s first crypto-bank, praised the new integration in the announcement, saying that Ripple has shown promising growth prospects in recent years with over 300 banking and financial institutions. The Ripple concept is revolutionary, as Imbach emphasized:We were impressed by the excellent global performance of Ripple – they now have over 300 financial institutions in their global payment network RippleNet. The company’s XRP-based solutions address the weaknesses of the growing $700 billion global remittance market. The low cost of transfers makes them an ideal tool to facilitate payments in emerging markets.
Author : Jake Simmons