The Metaverse has seen a wider acceptance with various sectors of creative folks experimenting with it. Starting from music concerts to fashion shows to real estate! The possibilities stay one step away! To join the club, soon after Dubai created a police service for its public in the metaverse, Abu Dhabi, during its ABFW announced that Sygnum, the first of its kind, digital asset bank to enter the metaverse will be awarded the Abu Dhabi license for them to expand their presence.
All through the 30 events that were staged at ADFW, witnessed a total of 8200+ in-person participants from across the financial business community, including approximately 500+ global VIPs, 300 regional & international speakers, asset management companies, and over 100+ start-ups as a part of the grand event!
What will Sygnum do in Abu Dhabi?
Sygnum, the crypto asset bank that has Proof of stake tokens like ADA, ETH and XTZ available for staking; will leverage the regulatory guidelines of Switzerland’s Finma; the financial market supervisory authority, and its oversubscribed USD 90m series in order to serve the local market with a crypto-native space of digital asset banking, asset management, tokenization, and various B2B services.
Giulia Finkbeiner-Bertoni, Sygnum’s designated UAE Senior Executive Officer, in an opening segment, mentioned that,
“I am excited to join the global Sygnum team and introduce our vision for Future Finance to the Abu Dhabi financial community. I believe that Sygnum’s core value of trust and its ability to build relationships will be an asset for years to come in this region.”
Abu Dhabi – The 5th Largest Crypto Hub
Abu Dhabi; known as an oil-rich middle east country is currently standing at a 5th position in the global ranking index of countries with a massive crypto adoption. Currently, Abu Dhabi stands at a 34% adoption rate with an annual transaction rate of more or mess USD 25bn.
In order to support the operation of Sygnum’s pioneer efforts in UAE, Abu Dhabi will be providing Sygnum with an Abu Dhabi license so that they can help in enabling citizens to access crypto asset services within an already established wealth management market. It will be beneficial as Sygnum’s pioneer efforts in UAE will also be taking into consideration a thoroughly understood relevant regulatory framework.
About Sygnum
As stated in WebDisclosure, Sygnum is the pioneer in being the world’s first digital asset bank, and a digital asset specialist with global reach. With Sygnum Bank AG’s Swiss banking licence, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers professional and institutional clients or qualified investors (e.g., corporates, banks, and other financial institutions) to invest in the digital asset economy with complete trust. Sygnum operates an independently controlled, scalable, and future-proof regulated banking platform. Our interdisciplinary team of banking, investment, and Distributed Ledger Technology (DLT) experts is shaping the development of a trusted digital asset ecosystem. The company is founded on Swiss and Singapore heritage and operates globally.
Source: crypto.news, WebDisclosure
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