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Sygnum taps Fireblocks for new instant settlement network

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Sygnum, a global digital asset banking group founded in Switzerland, is launching Sygnum Connect – their new, 24/7 instant settlement network for fiat, digital assets, and stablecoin transactions. Aimed at institutional investors, liquidity providers, stablecoin issuers, brokers, exchanges, and more, Sygnum Connect launches with connectivity to 200+ Sygnum institutional clients. 

Sygnum has tapped Fireblocks to provide the fiat settlement infrastructure for Connect. Connect members who are also Fireblocks users will be able to access fiat settlements and gain access to trading venues and liquidity providers through the Fireblocks Network.

Payments have historically been bound by traditional 9-to-5 banking systems, as well as manual settlements and payouts, which have hampered the ability of businesses to move in and out of positions, as well as transfer funds, quickly. By integrating Fireblocks, Sygnum Connect members will be able to transfer fiat currencies between each other in real-time, 24/7, eliminating the need to wait for settlements to clear with counterparties and providing greater capital efficiency for network participants.

Ran Goldi

SVP Payments and Network

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About Sygnum Connect

Sygnum Connect aims to fill what Sygnum has identified as an industry gap for a complete solution that delivers the capital efficiency, on-demand liquidity, and traditional financial system connectivity the crypto ecosystem requires for future growth. Traditional settlement processes can add capital inefficiency, unnecessary complexity and delays, during which time assets are unavailable for investment or trade. Sygnum Connect transactions between members are settled instantly, 24/7, eliminating counterparty and settlement risk for Connect members.

According to Sygnum, the platform is targeting over $1 trillion USD per month for digital asset-related settlements, and is fully compliant with stringent Swiss regulatory, legal and security standards. Between Connect members, settlements are entirely free.

At launch, Sygnum institutional clients now have access to instant settlement of fiat currencies including USD, EUR, CHF – as well as to a wide range of digital assets like Bitcoin, Ethereum and stablecoins starting Q3 2024.

The post Sygnum taps Fireblocks for new instant settlement network appeared first on Fireblocks.


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