Swiss crypto bank Sygnum adds Deribit into off-exchange custody platform

Sygnum has expanded its out-of-exchange platform to include drinking, the largest trading platform for Bitcoin and Ethereum options.

Cryptocurrency bank based in Zurich Sygnum has expanded its police custody outside the exchange by including Derivatives to the list of exchanges of supported cryptography. In a March 5 press releaseThe bank said that the so-called Sygnum Protect operates the “Off Exchange” service of Fireblocks, allowing merchants to reflect their guardian assets on a trading platform.

“Awareness at risk of consideration in the crypto occurs in cycles, and the recent major cyber-attack has sparked one of the largest waves of derisory exchange since the FTX. This is still another reminder that the separation of police custody of exchange trading is essential for security. »»

Dominic Lohberger, product manager of Sygnum

Commenting on the partnership, the director general of Fireblocks, Michael Shaulov, said that integration shows the strength of the company’s guard model as a exchange and guards “can now take advantage of our standardized integration without requiring personalized development – accelerate institutional adoption so that assets can be held via regulated banks.”

Sygnim first launched its police custody outside the exchange in early 2024. The bank states that its Swiss banking license allows it to hold the cryptographic assets of customers and traditional titles out of the systems’ balance sheet, which means that it is “remote bankruptcy”.

In January, the bank guaranteed $ 58 million in strategic funding at an evaluation of $ 1 billion. Fulgur Ventures has been called “cornerstone investor”, while the product should take charge of the multi -region market and extend the product portfolio “by emphasizing Bitcoin technology”, said the bank.