Swiss cantonal bank starts offering Cardano and Avalanche to meet increased demand

The Swiss Bank Zuger Kantonalbank added Cardano and Avalanche to its cryptocurrency offer thanks to a partnership with the Banking Synum focused on the crypto.

Zuger Kantonalbank, a Swiss universal bank, has expanded its cryptocurrency offers to include Cardano (ADA) and the avalanche (Avax) Thanks to a partnership with Sygnim Bank Swiss Bank focused on crypto.

In a blog ad On March 17, Sygnum declared that expansion was drawn by an “increased demand from customers” in the midst of what he described as increasing regulatory clarity in the United States and the EU, as well as by establishment a reserve of American strategic bitcoin. Fiat-to-Crypto transactions of the bank are facilitated via the Sygnum bridge, while Zuger Kantonalbank customers can access the service via e-banking and its mobile application.

Jan Damrau, director of business management and member of the board of directors of Zuger Kantonalbank, said that the addition of ADA and AVAX allows bank customers to “further develop their cryptographic portfolios with their main bank – at a time when digital assets address a global inflection point in terms of adoption”.

“The latest extension of the universe of Zuger Kantonalbank’s token illustrates the high demand for additional tokens with various use cases to complete major protocols like Bitcoin and Ethereum.”

Fritz Jost, chief of the Banque Banque Banque B2B

In early January, Sygnim raised $ 58 million in its strategic growth round, pushing its value to more than a billion dollars and making a “unicorn”. The financing round was overwritten, with Fulgur Ventures, a venture capital company focused on Bitcoin, as an investor of the cornerstone. New and existing investors, as well as Sygnim team members, also participated in funding.