Quick take:
Swiss digital asset bank, Sygnum, has launched Sygnum NFT, an institutional-grade platform combining NFT concept advisory, NFT issuance and a fully-compliant NFT launchpad.
The platform is targeted at major corporates, sports clubs and associations, consumer brands and leading artists looking to explore the enormous potential of NFTs to revolutionize digital community engagement as well as the monetization of brand and intellectual property rights.
Sygnum’s NFT platform enables creators to issue and sell NFTs to their customers, community or fan base in full compliance with applicable legal, regulatory and tax provisions. It also streamlines a range of complex challenges, including tax and balance sheet treatments, crypto-to-fiat conversions as well as technological hurdles.
Creators can also benefit from the ability to receive and store sale proceeds in both fiat and cryptocurrencies with the bank. The platform marks Sygnum’s first step in offering trusted services to the broader communities outside its banking environment.
To prevent common instances of fraud that plague NFT marketplaces, the platform only allows curated content and vetted NFT issuers. To simplify the purchase process for crypto-novices, NFTs can be purchased via their credit card or crypto with zero gas fees.
“This initiative is further testament to Sygnum’s unique value proposition of being a technology company with a banking licence, pioneering solutions built on future-proof technology and in full compliance with applicable laws and regulations“, says Thomas Eichenberger, Sygnum Bank Head of Business Units.
Alongside the launch of the NFT platform, Sygnum also introduces bank-grade NFT custody services for its banking clients. Leveraging Sygnum’s purpose-built multi-custody platform, clients can benefit from a highly-secure, yet conveniently accessible storage solution for their high-value NFTs.
This news comes shortly after fellow Swiss crypto bank SEBA became the first-ever bank to offer regulated custody for blue-chip NFTs.
In September, Sygnum opened a metaverse hub in Decentraland. With roots in Switzerland and Singapore, Sygnum has also been an active, crypto-native member of the Web3 community since its inception, with projects including tokenising a blue-chip NFT, Cryptopunk #6808; and regulated Ethereum staking on open blockchains as well as trading and asset management products for DeFi applications.
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