Swiss cryptocurrency bank Sygnum Bank has benefited greatly from the surge in cryptocurrency trading volumes in the first half of this year.
According to Cointelegraph on the 24th (local time), Sygnum announced in a statement today that
Sygnum's chief customer officer Martin Martin said that physical trading volume has doubled and derivatives trading volume has increased 500% year-on-year. Lending volume also surged 360%.
Burgherr attributed this growth to the recent approval of Bitcoin and Ethereum physical exchange-traded index funds (ETFs) in the United States.
"The approval and launch of Bitcoin and Ethereum ETFs marks a significant turning point for the cryptocurrency sector this year, and the digital asset
"This phenomenon is also reflected in Sygnum's organic growth, with the company posting cumulative first-half annual growth of 1.2% in its key business areas.
The growth rate has increased significantly. Platform Winners Index ETP (Sygnum Platform Winners Index
"We will offer multiple cryptocurrency-related exchange-traded products (ETPs), including the Ethereum ETP," the company said.
In addition, more customers will be able to stake Ethereum through Sygnum’s staking service.
He said that Sygnum is choosing to leverage its blockchain to create a blockchain that currently represents 42% of all Ethereum held by Sygnum clients.
Although Switzerland is located in Europe, it is not a member of the European Union.
However, Sygnum plans to be fully compliant with Mica until the first quarter of 2025.
Sygnum, which launched in 2022, was licensed in Luxembourg, an EU member state.
2024/07/26 10:44 KST
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