Sygnum Digital Assets Bank seeks regulatory license in UAE

Swiss and Singaporean Sygnum, Digital assets bank is seeking a regulatory license in the UAE. Sygnum has placed job announcements on several platforms requesting interested parties for the position of General Manager in the UAE. Sygnum was launched in 2019.

As per the post, “The newly created position of the General Manager UAE based out of Dubai, will be the main driver to grow Sygnum’s presence in the Middle East region. In the first phase responsibilities include regulatory license application, setting up office infrastructure, local stakeholder management, and building of sales activities and respective teams.”

Sygnum operates a seamlessly integrated, regulated digital asset banking platform across fiat accounts & payments, digital asset custody, transfers, staking, trading, lending and an end-to-end tokenization solution covering primary market issuance and secondary market trading capabilities. Sygnum integrates major currencies and digital assets including Bitcoin, Ethereum a digital CHF into one account.

On their LinkedIn page, Sygnum also posted the same job opportunity stating that Sygnum is the world’s first Digital Asset Bank, founded on Swiss and Singaporean heritage, operating globally. Sygnum makes digital assets bankable, secure and convenient, empowering our clients to invest in the digital asset economy with complete trust.

In their post on LinkedIn they state, “As we want to grow geographically, we are looking to enhance our team with a General Manager in the UAE to build and grow our presence in the Middle East region.”

As per their LinkediN post, Sygnum is looking for “individuals with experience in the financial services industry, be it a bank, asset manager or crypto related function. Ideally, they should be familiar with the local regulatory framework in the UAE.”

Sygnum digital assets bank has raised 150 million USD since its inception. It lately raised 90 million USD Series B Fund which they had stated would be used to accelerate the expansion of Web3.0 and their offerings into new global markets.

The recent funding round was led by Sun Hung Kai & Co. Limited (SEHK: 86), a leading Hong Kong listed alternative investment financial services institution as well as canadian investment firm, Meta Investments, Animoca Brands and Wemade, founders of leading decentralized finance (DeFi) protocols and existing strategic investors including SBI Holdings and Siam Commercial Bank's digital investment arm, SCB 10X.