PlayIconNav
BTC
$67,808.23+2.23%
ETH
$3,255.51+2.30%
BNB
$579.32+0.95%
SOL
$181.83+5.03%
XRP
$0.59706442-1.00%
DOGE
$0.13337671+4.78%
CD20
$2,289.12+3.03%
TON
$6.67+0.54%
ADA
$0.41538928+4.30%
TRX
$0.13762171+1.11%
AVAX
$28.67+4.64%
WBTC
$67,910.29+2.41%
Ad
Finance

Sygnum Becomes First Bank to Offer Custody of Dfinity's ICP Token

The Swiss digital asset bank will follow up with a suite of services for ICP including loans, spot trading and options trading.

By Jamie Crawley
AccessTimeIconMay 18, 2021 at 10:30 a.m. UTC
Updated May 9, 2023 at 3:19 a.m. UTC
Vault

Digital asset bank Sygnum will offer custody and banking services for Internet Computer utility tokens, becoming the first bank to do so.

  • Holders of ICP will be able to deposit their tokens with Sygnum, which will be followed by the rollout of 24/7 spot trading, options trading and loans against ICP holdings at a later date.
  • Incubated and launched by Dfinity on May 7, Internet Computer is described by Sygnum as the “third major blockchain innovation after Bitcoin and Ethereum,” in an emailed announcement Tuesday.
  • Founded in 2016, the ambitious project is aimed at offering smart contract functionality at internet speed, creating a "decentralized global computer." 
  • ICP has listed on a number of exchanges in recent weeks including Coinbase Pro on May 10, initially spiking to $640 before correcting.
  • Since May 11, ICP has trended downwards and is sitting at $196.58 at press time, according to CoinMarketCap.
VolumeMuteUnmute

RFK Jr. Says He's 'Fully Committed' to Bitcoin; Jersey City to Invest in Bitcoin ETFs

  • What Do EigenLayer's Outflows of $2.3B Signal?
    00:57
    What Do EigenLayer's Outflows of $2.3B Signal?
  • What Do TradFi Crypto Moves Mean for Decentralization?
    04:20
    What Do TradFi Crypto Moves Mean for Decentralization?
  • Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking
    02:02
    Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking
  • Ether Slides as Grayscale's ETHE Outflows Ramp Up
    00:53
    Ether Slides as Grayscale's ETHE Outflows Ramp Up

    • See also: Dfinity Launches Uber-Ambitious ‘The Internet Computer’ After 5 Years of Development

    Disclosure

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

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.