Crypto bank Sygnum clinches capital markets services licence

It will roll out a multi-manager fund on 1 November.

Digital asset technology group Sygnum has been allowed to conduct asset management activities in Singapore after obtaining a capital markets services (CMS) licence from the Monetary Authority of Singapore (MAS), according to a press release.

Sygnum will focus primarily on digital asset investment strategies for accredited and institutional investors. The first product they will offer is a multi-manager fund set to launch on 1 November.

Also read: Crypto firm Sygnum eyes banking license; Chinese firm to buy AVIC Maritime for $31.58m

Its systematic portfolio construction methodology diversifies the risk of investing by allocating investments across a portfolio of managers that tap into the global digital asset opportunity using different and uncorrelated investment strategies.

The company recently received its banking and securities dealer licence from the Swiss Financial Market Supervisory Authority (FINMA). 

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