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Sygnum Bank will allow its users to invest in Ripple’s XRP token via their e-banking portal

Swiss-based digital asset bank Sygnum Bank announced on April 30th that it has started handling XRP with its own service.

You will be able to trade XRP using deposits of fiat currencies such as the Swiss franc, the Euro, the Singapore dollar, and the US Dollar, to buy, hold and trade XRP tokens backed by the Ripple protocol. In addition, the company also has a custody wallet provided by the company.

Sygnum Bank is a banking company licensed from the Swiss Financial Market Authority (FINMA) and has a license for asset management in Singapore. It’s a new bank that uses distributed ledger technology (DLT) to handle digital assets in a regulated banking business.

Mathias Imbach, co-founder of Sygnum Bank, praised the announcement and commented as follows:

“We were impressed with Ripple’s excellent performance globally – they now have more than 300 financial institutions in their global payments network, RippleNet. The XRP-based solutions developed by the company resolve weak spots in the growing global remittance market of $ 700 billion. The low cost of transfers makes it an ideal tool to facilitate payments in emerging economies.”

Sygnum Bank, a digital asset bank, is also working on cryptocurrencies. In March of this year, the stable coin “DCHF” pegged at a ratio of 1: 1 with the Swiss franc was announced.

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