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Sygnum Launches Instant Settlement Network for Digital Assets

This launch coincides with a potential institutional adoption inflection point, driven by factors like Bitcoin spot ETFs, rising stablecoin flows and Tier 1 asset managers moving more of their assets on-chain.

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Sygnum has announced the launch of a "24/7 multi-asset settlement network," promising to revolutionize the way institutional investors trade digital assets.

This platform offers instant, round-the-clock settlement for fiat currencies, digital assets, and stablecoins for institutional investors, liquidity providers, stablecoin issuers, brokers and selected exchanges, eliminating the inefficiencies and delays that have plagued the market, the digital asset banking group said in an announcement today.

Known as Sygnum Connect, the platform is launching with a robust network of established partners, including the regulated digital asset exchange AsiaNext, prime broker Hidden Road, and liquidity provider B2C2. Additionally, over 200 of Sygnum's high-volume institutional trading clients already have access to the network. This strong foundation ensures immediate liquidity and widespread adoption within the institutional investor community.

"Traditional settlement processes often involve capital inefficiency and add unnecessary complexity and delays, during which time assets are unavailable for investment or trade. Before the launch of Sygnum Connect, there was no instant multi-asset settlement network providing the capital efficiency, on-demand liquidity and institutional-grade standards that professional and institutional market participants increasingly require," Sygnum said.

Custody technology provider Fireblocks will also fully integrate the Sygnum Connect network into their platform in Q3 2024, allowing its 1,800 institutional clients to access Sygnum Connect fiat settlements through the Fireblocks network, eliminating the need to wait for settlements to clear with counterparties and providing greater capital efficiency for network participants.

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Network members have access to instant USD, EUR, CHF and SGD fiat settlements, with settlements for a wide range of digital assets like Bitcoin, Ethereum and stablecoins being added in Q3 2024. Sygnum Connect's add-on services include simultaneous delivery-vs-payment transactions, on-demand Lombard loans, FX conversions, and stablecoin minting and redemption.

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