By
Temitope Olatunji
April 18th, 2024
The official statement discloses that the tokenization will help investors get access to a modernized way of raising funds instead of relying on the traditional method.
Sygnum has finally become the first bank in the world to tokenize its shares with plans in place to launch its future public offering according to an official statement. Interestingly, the shares were issued using Desygnate, its tokenization platform.
The official statement discloses that the tokenization will help investors get access to a modernized way of raising funds instead of relying on the traditional method.
“Fully regulated, highly efficient and potentially more inclusive alternative,” they said.
Their tokenization has also been made to reflect and comply with the upcoming Swiss blockchain law expected to come in flesh next year.
Sygnum has also laid the foundation to go public by checking out several strategies to take advantage of Switzerland and the Singapore market. Also, they are looking at the possibilities of engaging in a dual listing with the Six Digital Exchange. Sygnum also considers the partnership between the Six Digital Exchange and the SBI Digital Asset Holdings.
In a bid to maximize the full potential of stakeholder relationships, the smart contract capabilities of its token would-be leveraged. Some of these include ensuring long-term shareholders are rewarded with tokens to motivate them to refer other investors to the platform.
The Co-Founder and Group CEO of Desygnate, Mathias Imbach has stated that becoming the world’s first bank to issue its token is a very important milestone. Through the provision of liquidity for their trusted shareholders as well as the new engagement models with their partners, they have been able to provide a more direct and effective value as well as ownership.
A senior Financial Industry Executive and Sygnum Investor, Velina Peneva has said that the current initiative makes her more than just a shareholder and client. From her bank account, she said she can now access the tokenized Sygnum shares and the same as the other digital assets investments. This means she can be a participant in any future capital raises in the future.
Tim Grant, the Head of Six Digital Exchange has announced his excitement about partnering with Sygnum.
“As we build institutional-grade, future-proof financial market infrastructure that leverages the benefits of distributed ledger technology, we need credible players and pioneers to drive mainstream adoption,” he added.
The popularity of Sygnum lies in its status as the first digital asset bank in the world holding a license from the Swiss Banking as well as Sygnum Pte’s LTD Capital Financial Services License. They have over the years been empowering banks, corporates, investors, and other institutions to channel their investment funds into the digital asset economy.