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Sygnum to Bring Crypto Banking to the Metaverse

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Pavan A Follow

INDIA

Sep, 02 2022

Sep, 02 2022

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Sygnum, the Swiss crypto bank, and asset manager announced Thursday that it will open a hub in Decentraland at the end of September. Sygnum bank will showcase its Web3 product innovation in Decentraland, which will make it the first Swiss bank operating in cyberspace and the virtual world. 


The chief client officer of Sygnum, Martin Burgherr, said, “Our new metaverse hub is the natural place to showcase Sygnum’s Web3 innovations and provide a trusted entry point for investors into the fast-growing Future Finance economy.” 


In the metaverse, the users can connect with each other, play games, work with other users, work on projects, shop, and develop new skills as part of an interactive 3D world that utilizes open blockchain technology. 

Metaverse users are now seeking enhanced user experiences as their digital, physical, financial, and social worlds become increasingly interconnected. McKinsey research predicts that the metaverse will deliver these enhanced experiences and reach USD 5 trillion by 2030. 


The Decentraland uses a cryptocurrency called MANA to facilitate gaming, goods, and services in the virtual world, making it the largest metaverse. 


Sygnum has been an active crypto-native member of the Web3 community since its inception, believing that the metaverse and Web3 technologies are evolving into the next generation of the internet. Sygnum bank is not a new player in the Web3 space, they have already developed a number of products in this area, including Ethereum staking on open blockchains, Cryptopunk #6808, and others. 


At 11 a.m. CET on Sep 27, Sygnum will launch its Decentraland metaverse hub. With this move, it joins JP Morgan and HSBC, which launched in Decentraland in February and March, respectively. 

 


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Pavan A

CBW - External Analyst

INDIA

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