Sygnum Bank Middle East launches in Abu Dhabi

Zurich / Abu Dhabi, 22 March, 2023 – Sygnum, the world’s first digital asset bank, announces the opening of its Middle East hub in the Abu Dhabi Global Market international financial centre to provide a portfolio of Swiss-regulated crypto banking services.

  • Further strengthens Sygnum’s global reach, following Sygnum Singapore’s growth via corporate finance advisory and capital markets products, as well as expansion of regulated offering into Luxembourg
  • Giulia Finkbeiner-Bertoni, experienced Middle East executive, leads regional operations as Senior Executive Officer and opens the office in the ADGM international financial centre
  • Abu Dhabi is a true “falcon economy” with MENA’s highest economic growth and 35% of the population already invested in the local USD 25bn crypto market

Abu Dhabi licence

Sygnum Bank Middle East has received a Financial Services Permission (FSP) from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA), following its in-principle approval in October 2022. Seasoned Middle East Executive, Giulia Finkbeiner-Bertoni, leads Sygnum’s operations across the region and opens the office in the ADGM International Financial Centre.

Sygnum Bank Middle East will offer personal, concierge-style client service, enabling convenient local client access to a portfolio of Swiss-regulated digital asset banking, asset management, tokenization and B2B banking services. With regional demand for regulated crypto services on the rise, clients will be drawn from a diverse range of sectors, ranging from existing local crypto foundations and projects to “traditional” institutional investors and qualified HNWI looking for trusted crypto asset exposure through a regulated partner.

Sygnum Bank Middle East’s Senior Executive Officer, Giulia Finkbeiner-Bertoni, says, “The UAE has a proactive investment programme, a progressive crypto regulatory framework and a dynamic, tech-driven economy. We look forward to leveraging this momentum by bringing Sygnum’s trusted digital asset services to Abu Dhabi and the region.”

Giulia Finkbeiner-Bertoni, Senior Executive Officer at Sygnum Bank Middle East
Giulia Finkbeiner-Bertoni, Senior Executive Officer at Sygnum Bank Middle East

“We look forward to bringing Sygnum’s trusted digital asset services to Abu Dhabi and the region.”

Giulia Finkbeiner-Bertoni, Senior Executive Officer, Sygnum Bank Middle East

International crypto hub

Sygnum’s local presence in Abu Dhabi enables it to directly access a large and increasingly crypto-active wealth management market. According to new research [1], the Emirate of Abu Dhabi is a true “falcon economy” possessing the highest economic growth in the MENA region. With 35% of the UAE population already invested in the local USD 25bn crypto market and over 1,400 crypto organisations [2] locally-based, Abu Dhabi has the potential to become a future regional and international hub for Web3, metaverse and blockchain-based projects.

Welcoming the FSP announcement, Arvind Ramamurthy, Chief of Markets at ADGM said, “ADGM congratulates Sygnum Bank ME for obtaining their Financial Services Permission from ADGM’s FSRA and welcome them to our rapidly growing business ecosystem. We believe that Sygnum’s regulated finance offering in Abu Dhabi is a significant addition to our community and will contribute to the growth of the region. As the largest regulated jurisdiction for digital assets in the MENA region, ADGM acts as a catalyst with the right tools that enable the growth of such companies within the UAE’s financial sector. With Sygnum’s presence in the region, we are committed to upholding market transparency and integrity that bolsters the economic growth of Abu Dhabi, attracts global companies and aids in making it a digital-first international financial hub for seamless business transactions.”

References

[1] https://www.mediaoffice.abudhabi/en/economy/abudhab-economy-shows-the-fastest-growth-rates-in-the-mena-region-a-true-falcon-economy/https://www.mediaoffice.abudhabi/en/economy/abudhab-economy-shows-the-fastest-growth-rates-in-the-mena-region-a-true-falcon-economy/

[2] Gemini cryptocurrency exchange 2022 report

ENDS

About Sygnum

Sygnum is the world’s first digital asset bank, and a digital asset specialist with global reach. With Sygnum Bank AG’s Swiss banking licence, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers professional and institutional investors, corporates, banks, and other financial institutions to invest in the digital asset economy with complete trust. Sygnum operates an independently controlled, scalable, and future-proof regulated banking platform. Our interdisciplinary team of banking, investment, and Distributed Ledger Technology (DLT) experts is shaping the development of a trusted digital asset ecosystem. The company is founded on Swiss and Singapore heritage and operates globally. To learn more about Sygnum, please visit www.sygnum.com.

Media Contact
Dom Castley
T +41 58 508 20 18
[email protected]

Sygnum Bank AG
Uetlibergstrasse 134a
8045 Zurich
Switzerland

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This document was prepared by Sygnum Bank AG. This document may contain forward looking statements and may be subject to change. The opinions expressed herein are those of Sygnum Bank AG, its affiliates, and partners at the time of writing. The document is for informational purposes only and contains general material. It is for use by the recipient only. It does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum Bank AG to purchase or sell assets or securities. It is not intended to be used as a general guide to investing, and should be used for informational purposes only. When making an investment decision, you should either conduct your own research and analysis or seek advice from an expert to make a calculated decision. The information and analyses contained in this document have been compiled from sources believed to be reliable. However, Sygnum Bank AG makes no representation as to its reliability or completeness and disclaims all liability for losses arising from the use of this information.

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