Zurich crypto-bank Sygnum adds XRP to its service

Sygnum, a swiss bank specialized in cryptocurrency, just announced support for the digital part XRP (Ripple) on his platform.

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1 Sygnum, a swiss bank specialized in cryptocurrency, just announced support for the digital part XRP (Ripple) on his platform.

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According to a press release, Sygnum now supports the 3rd cryptocurrency in the market in terms of market capitalization. Customers of the bank can now invest, transfer and store XRP via his service.

Customers can keep their XRP in our regulated deposit solution developed in cooperation with Swisscom. The addition of XRP helps diversify their digital asset portfolios, "said Simon Waelchli, depot manager at Sygnum.

Founded in 2018 in Zurich, Switzerland, Sygnum is one of the few European establishments specializing in cryptocurrency to own a banking license.

We were impressed by the excellent performance of Ripple globally – they have over 300 financial institutions in their payment network RippleNet, ”Added Mathias Imbach, co-founder of Sygnum.

The XRP de Ripple joins the two other digital pieces already supported by Sygnum, namely Bitcoin (BTC) and Ethereum (ETH).

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In March, the bank launched a stablecoin backed by the Swiss franc and named DCHF in order to create operational efficiencies and promote the development of new business models.

Last year, Deutsche Börse, Swisscom and Sygnum have entered into a strategic partnership to jointly develop a financial market infrastructure dedicated to cryptocurrencies.