Swiss Digital Asset Bank Sygnum Launches Blockchain Alternative to Stock Exchanges

The Swiss-licensed firm has launched a tokenization service and a trading platform offering, it says, real-time settlement.

Nov 26, 2020 at 10:53 a.m. UTC
Updated Sep 14, 2021 at 10:35 a.m. UTC

Sygnum, a digital asset finance firm with a Swiss banking license, has launched what it says is a blockchain-based alternative to listing shares on a stock exchange.

On Thursday, the company announced an "end-to-end tokenization solution," comprising of both a primary market issuance platform called Desygnate, and SygnEx, a secondary market trading venue.

The solution will provide issuers a way to raise capital, grow liquidity, transfer ownership and manage corporate actions, Sygnum said. It will also bring investors access to tokenized assets, with targeted markets being venture capital, "mid-cap" companies, real estate, and art and collectibles.

With distributed-ledger technology underlying the solution, Sygnum claims instant settlement around the clock and seven days a week, as well as reduced counterparty risks with the platform powered by its own Swiss franc-linked stablecoin, Digital CHF (DCHF).

"With Desygnate and SygnEx, we bring a blockchain-powered business solution to market which opens up a world of new opportunities for capital market participants to do business,” said Mathias Imbach, CEO-designate of Sygnum Group, in the announcement.

A number of companies are already using, or will soon start to use, the tokenization solution, according to Sygnum. It lists asset manager Azimut Group, property investment firm ImmoZins, real-estate token provider CrowdliToken, electric vehicle company BAK Motors and wine investment firm Fine Wine Capital AG.

As an alternative to traditional capital markets, Sygnum said it can help companies raise funding while avoiding high costs and extensive listing requirements.

"Switzerland’s estimated 600,000 SMEs, and the 45,000 new companies founded each year, can now attract a broader network of investors and raise capital by issuing security tokens, which can be securely traded on SygnEx," the company said..

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
First Mover Asia: USDC Hasn’t ‘Flippened’ USDT, but Trader Preferences Are Changing; Cryptos Rise Despite Bearishness

A Glassnode analyst suggests the collapse of the UST token has triggered a change in investors' stablecoin preferences; bitcoin holds above $30,000.

A Glassnode analyst suggests the collapse of the UST token has triggered a change in investors' stablecoin preferences; bitcoin holds above $30,000.

2
Musk Sets New Condition for Twitter, Citi Says Terra’s Fallout Unlikely to Hit Wider Financial System

The most valuable crypto stories for Tuesday, May 17, 2022.

The most valuable crypto stories for Tuesday, May 17, 2022.

3
Market Wrap: Cryptos and Stocks Mixed Amid Bearish Sentiment

BTC is stabilizing around $30K while stock market volatility begins to fade.

BTC is stabilizing around $30K while stock market volatility begins to fade.

4
New Data Shows Underground Bitcoin Mining Thriving in China

The U.S. has also expanded its lead in the global hashrate competition.

The U.S. has also expanded its lead in the global hashrate competition.