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<a href="https://bitcoinworld.co.in/sygnum-bank-launches-multi-asset-instant-settlement-network-dubbed-sygnum-connect/" title="Sygnum Bank Launches Multi-Asset Instant Settlement Network Dubbed Sygnum Connect" rel="nofollow"></a>
The Sygnum Connect will operate 24/7 for eligible institutional investors designed to provide instant settlement for fiat, digital assets, and stablecoins. 
Sygnum Bank, a fast-growing digital asset bank founded on Switzerland and Singapore’s heritage, has announced the launch of a new product to enable instant fund settlement for eligible institutional investors dubbed Sygnum Connect.&nbsp; 
According to the announcement, Sygnum Connect will operate throughout the week to enable instant settlement for digital assets, fiat currencies, and stablecoins. 
The solution offers various services including simultaneous delivery-vs-payment transactions, on-demand Lombard loans, FX conversions, and stablecoin minting and redemption. 
Already, the Sygnum Bank has enlisted several clients to the Sygnum Connect including AsiaNext, Hiden Road, and B2C2. The Sygnum Connect will also provide critical fund settlement services to more than 200 clients of the Swiss-based crypto bank. 
To begin with, the system will support USD, CHF, EUR, and SGD. Meanwhile, the Sygnum Bank indicated that the support for digital assets led by Bitcoin (BTC), Ethereum (ETH), and stablecoins will be available before the end of the third quarter, of 2024. 
“Sygnum Connect solves an important piece of the settlement puzzle by making transactions between participants in the global crypto ecosystem faster, cheaper, less risky, and more reliable. Sygnum Connect is making a significant contribution to traditional financial system connectivity by empowering professional and institutional market participants to invest and transact in the digital asset economy with complete trust,” Thomas Eichenberger, Chief Product Officer at Sygnum Bank, <a href="https://twitter.com/sygnumofficial/status/1811295117946286148">noted</a>. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4e3.png" alt="📣" class="wp-smiley" style="height: 1em; max-height: 1em;"> News: Sygnum launches Connect 24/7 Multi-Asset Instant Settlement Network <a href="https://t.co/JByMWu1aO3">https://t.co/JByMWu1aO3</a> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/25aa.png" alt="▪" class="wp-smiley" style="height: 1em; max-height: 1em;"> First network to offer 24/7 free instant settlement for fiat, <a href="https://twitter.com/hashtag/digitalassets?src=hash&amp;ref_src=twsrc%5Etfw">#digitalassets</a> and <a href="https://twitter.com/hashtag/stablecoins?src=hash&amp;ref_src=twsrc%5Etfw">#stablecoins</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/25aa.png" alt="▪" class="wp-smiley" style="height: 1em; max-height: 1em;"> Launches with existing institutional network, including regulated institution… 
 — Sygnum Bank (@sygnumofficial) <a href="https://twitter.com/sygnumofficial/status/1811295117946286148?ref_src=twsrc%5Etfw">July 11, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h3 id="span-style-font-weight-400-sygnum-connect-and-market-outlook-span">Sygnum Connect and Market Outlook</h3> 
The launch of the Sygnum Connect coincides with the ongoing mainstream adoption of digital assets fueled by the recent approval of spot Bitcoin ETFs in the United States and other jurisdictions.&nbsp; 
Having been founded in 2017, the Sygnum Bank has a rich client base from Europe and Asia. 
The strategic connection between Sygnum Bank with Fireblocks will enable its more than 1,800 institutional clients to seamlessly access the Sygnum Connect before the end of the third quarter. 
According to Ran Goldi, Senior Vice President of Payments and Networks at Fireblocks, the integration with Sygnum Connect will significantly reduce the settlement time for institutional investors, especially across different chains.&nbsp; 
The Sygnum Connect will directly compete with other web3 settlement networks such as Ripple’s cross-border settlement platform dubbed On-Demand Liquidity (ODL), which taps on the XRP and XRPL. 
The ongoing implementation of the Market in Crypto-Assets (MiCA) regulatory framework in Europe has significantly attracted more institutional investors into the web3 space. 
The ongoing mainstream adoption of digital assets and web3 platforms by institutions has significantly improved the underlying liquidity. 
In the long haul, the tokenization of real-world assets (RWA) on different blockchains will open up investments to global markets, more so to the unbanked. The unsustainable monetary policies by different central banks around the world have been the leading reason for the mainstream adoption of digital assets.

Sygnum Bank Launches Multi-Asset Instant Settlement Network Dubbed Sygnum Connect

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