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Zurich/Abu Dhabi – Sygnum, the world’s first digital asset bank, has announced the opening of its Middle East center at the Abu Dhabi Global Market International Financial Center to offer a Swiss-regulated portfolio of crypto banking services.
Further strengthening Sygnum’s global presence, following Sygnum Singapore’s growth through corporate finance advisory and capital markets products, and the expansion of regulated products into Luxembourg.
Seasoned Middle East executive Giulia Finkbeiner-Bertoni leads regional operations as Senior Executive and opens an office in the ADGM International Financial Centre.
Abu Dhabi is a true “falcon economy” with the highest economic growth in the MENA region, 35% of the population has invested in the local $25 billion cryptocurrency market
Abu Dhabi License
Sygnum Bank Middle East has received a Financial Services License (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), following approval-in-principle in October 2022. Giulia Finkbeiner-Bertoni, an experienced Middle East executive, leads Sygnum’s operations in the region and opens an office in the ADGM International Financial Centre.
Sygnum Bank Middle East will provide personalized concierge-style customer service, enabling local clients to conveniently access a Swiss-regulated portfolio of digital asset banking, asset management, tokenization and B2B banking services. As regional demand for regulated crypto services continues to grow, clients will come from a variety of sectors, from existing local crypto foundations and projects to “traditional” institutional investors and regulated partners seeking trusted exposure to cryptoassets qualified high-net-worth individuals.
Giulia Finkbeiner-Bertoni, Senior Executive at Sygnum Bank Middle East, said: “The UAE has an active investment program, a progressive crypto regulatory framework and a vibrant, technology-driven economy. services to Abu Dhabi and the region to capitalize on this momentum.”
International Encryption Center
Sygnum’s local presence in Abu Dhabi gives it direct access to a large and increasingly cryptocurrency-heavy wealth management market.According to the latest research[i], the emirate of Abu Dhabi is a true “falcon economy” with the highest economic growth in the MENA region.35% of the UAE’s population has invested in the local $25 billion crypto market and over 1,400 crypto organizations[ii] Locally based, Abu Dhabi has the potential to become a regional and international hub for future Web3, metaverse and blockchain-based projects.
Welcoming the FSP announcement, Arvind Ramamurthy, Head of Markets at ADGM, said: “ADGM congratulates Sygnum Bank ME on obtaining a financial services license from ADGM’s FSRA and welcomes them to our fast-growing business ecosystem. We believe in the value Sygnum has to offer in Abu Dhabi “Regulated financial services are an important addition to our community and will contribute to the development of the region. As the largest jurisdiction for the regulation of digital assets in the MENA region, ADGM acts as a catalyst, providing the right tools to enable such firms to operate in the Achieving growth within the UAE’s financial system sector. With Sygnum’s presence in the region, we are committed to maintaining market transparency and integrity to facilitate Abu Dhabi’s economic growth, attract global companies and help make it a seamless business transaction A digital-first international financial center.”
[i] https://www.mediaoffice.abudhabi/en/economy/abudhab-economy-shows-the-fastest-growth-rates-in-the-mena-region-a-true-falcon-economy/
[ii] Gemini Cryptocurrency Exchange 2022 Report
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About Abu Dhabi Global Market (ADGM)
Abu Dhabi Global Market (ADGM), the International Financial Center (IFC) in the capital of the United Arab Emirates, opened on October 21, 2015. ADGM reinforces Abu Dhabi’s position as a leading financial and business center serving as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
ADGM operates within an international regulatory framework directly applying English common law and governs the entirety of Al Maryah Island, which has been designated as Abu Dhabi’s Financial Free Zone.
ADGM has been ranked as one of the most popular top international financial centers in the Middle East and Africa region and as the largest fintech hub in MENA. Its progressive and inclusive business ecosystem favors global financial and non-financial institutions while leveraging synergies between ADGM and multiple jurisdictions positioned as the most advanced, diverse and progressive in regulation in the world One of the financial centers.
For more details on ADGM, please visit www.adgm.com or follow us on Twitter and Instagram: @adglobalmarket and LinkedIn: @Abu Dhabi Global Market (ADGM)
For media inquiries please contact:
Simon Hales
Middle East Manager
edman smithfield
Email simon.hailes@edelmansmithfield.com
alte niggi shark
Head of Corporate Communications, ADGM
E-mailmedia@adgm.com
About Sygnum
Sygnum is the world’s first digital asset bank and a digital asset expert with global influence. With Sygnum Bank AG’s Swiss banking license and Sygnum Pte Ltd’s Capital Market Services (CMS) license in Singapore, Sygnum enables professional and institutional investors, corporates, banks and other financial institutions to invest in the digital asset economy with complete confidence. 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 trusted digital asset ecosystems. The company builds on its Swiss and Singaporean heritage and operates globally. To learn more about Sygnum, visit www.sygnum.com
media contact
Don Carsley
Email dominic.castley@sygnum.com
signham bank
Uetlibergstrasse 134a
8045 Zurich, Switzerland
disclaimer
This document has been prepared by Sygnum Bank AG. This document may contain forward-looking statements, which are subject to change at any time. The opinions expressed here are those of Sygnum Bank AG, its affiliates and partners at the time of writing. This document is for informational purposes only and contains general material. It is for the recipient only. It does not constitute any opinion or recommendation, offer or invitation to buy or sell assets or securities by or on behalf of Sygnum Bank AG. It is not intended to be used as a general investment guide and is for informational purposes only. When making investment decisions, you should carry out your own research and analysis, or seek the advice of an expert to make a considered decision. The information and analysis contained in this document has been compiled from sources believed to be reliable. However, Sygnum Bank AG makes no representations about its reliability or completeness and accepts no liability for damages arising from the use of this information.
Sygnum Bank Middle East is the trade name of the offices of Sygnum Bank AG registered with ADGM number 000008614. The office is authorized by the FSRA with company reference number 220077 and regulated by the FSRA.
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