“Financial institutions must meet the highest regulatory, compliance and security standards when offering cryptocurrencies to their customer base. We are proud to partner with Sygnum and leverage their crypto-native expertise and their established track record as we take our first steps into the digital asset market.
Bison Digital Assets has partnered with Sygnum Bank to leverage its B2b platform to enable end customers to buy, sell and hold cryptocurrencies such as Bitcoin (BTC) and Ether (ETH).
Bison Bank’s crypto subsidiary is the first 100% bank-owned ‘virtual asset service provider’ (VASP) in Portugal. It has received approval from the Portuguese regulator, Banco de Portugal. It is also one of the few in Europe.
The Hong Kong-based bank relies on Portugal-based crypto entity Bison Digital Assets to securely hold clients’ digital assets and create a regulated bridge between the worlds of traditional finance and crypto.
Bison Digital Assets caters to self-directed investors, institutions and HNWIs
Partnering with Sygnum is part of its strategic goal to provide best-in-class services to crypto-enabled investors, institutions, and High Net Worth Individual (HNWI) clients.
The B2B platform helps capture more wallet share from existing customers as well as additional market share through access to the global crypto market, the company explained.
Sygnum’s B2B banking platform already allows 15 partners to create a footprint of regulated digital assets under their own brand and maintain full control of their customer relationships.
Sygnum offers a white label platform for banks and bank-backed VASPs
António Henriques, Managing Director of Bison Digital Assets, said, “Financial institutions must adhere to the highest regulatory, compliance and security standards when offering cryptocurrencies to their customers. We are proud to partner with Sygnum and leverage their crypto-native expertise and established track record as we take our first steps into the digital asset market.
Fritz Jost, Chief B2B Officer at Sygnum Bank, said: “The ability of banks to innovate and continually expand their customers’ choice is key to staying competitive and ready for the future. Our B2B platform enables this quickly and compliantly for Bison’s digital assets. This represents another node of trust in the growing European crypto ecosystem, and we look forward to partnering with banks and bank-backed VASPs that enable their end customers to invest in crypto with confidence.” .