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The Swiss company “Sygnum” adds storage and trading services for some decentralized finance currencies… Get to know them

Source: https://bit.ly/3vvFxpo

Swiss digital asset bank Sygnum has announced institutional-grade custody and trading services for a range of Decentralized Finance (DeFi) cryptocurrencies.

The acronym “DeFi” refers to the crypto sector that seeks to re-create and modify traditional financing offerings with a modern one that does not rely on intermediaries.

In the announcement , Sygnum revealed that it will launch regulated banking services for the following decentralized finance currencies:

Aave (AAVE) و Aragon (ANT) و Curve (CRV) و Maker (MKR) و Synthetix (SNX) و Uniswap (UNI) و1inch.

Sygnum will also provide custody, custody and trading of the USDC stablecoin.

Initially, Sygnum clients will be able to invest directly in the DeFi token portfolio.

Sygnum revealed that it will also launch revenue-generating decentralized finance products and services as well as unidentified custom solutions with its decentralized finance sector partners.

Sygnum indicated that Sygnum’s decentralized finance products and services will seamlessly integrate with fiat currencies, cryptocurrencies, and digital Swiss francs into a single account.

In a press release accompanying the announcement, Thomas Eichenberger, Head of Business at Sygnum stated:

Innovations in the DeFi space have the potential to transform many of the existing traditional use cases in the financial industry.

Eichenberger also praised the returns offered by digital asset products in an environment of persistently low interest.

Anticipating more such bridges in the future, Michael Egorov, CEO of Curve, said:

Sygnum is a pioneer in creating a bridge between traditional and decentralized finance.

DeFi Activity Decreased:

This news comes as a welcome boost to the decentralized finance sector, especially in light of the drop in DeFi activity on Ethereum.

Trading volumes and transaction numbers slumped in May in what analytics firm Glassnode described as a “historically significant drop” that resulted in lower demand for transactions and settlement.

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