Sygnum, Bybit Partner for Institutional Crypto Custody
- Swiss Bank Sygnum partners with Bybit for institutional crypto security.
- New partnership enhances institutional trading confidence.
- Improved security and transparency for Bybit’s clients.
Swiss Bank Sygnum has partnered with Bybit to secure institutional crypto assets through the Sygnum Protect platform, enhancing their offerings in the Swiss-regulated space.
This collaboration emphasizes security and transparency, potentially influencing institutional crypto adoption and trust across global exchanges.
Swiss Bank Sygnum has announced a partnership with Bybit to enhance institutional crypto asset security. Sygnum Protect, a Swiss regulated platform, will offer off-exchange custody to institutional clients. The collaboration excludes on-chain metrics release.
Bybit, the crypto exchange ranked second by volume, will collaborate with Sygnum. Institutional clients will benefit through enhanced security measures. The partnership indicates a significant strategic move to bolster market trust and facilitate asset safety.
Institutional clients can now trade with increased confidence due to the collaboration’s security features. Balances for clients will mirror instantly on Bybit, with trading P&L settling every eight hours for operational efficiency.
The partnership is expected to elevate institutional adoption and reduce counterparty risks. Regulatory robustness from Swiss banking laws plays a critical role in asset protection and security, aligning with international regulatory standards.
With Sygnum Protect extending its reach, over 50% of global volumes are covered. Post-integration, assets such as BTC and ETH are now safer under Swiss custody laws. Market dynamics lightly shift as Sygnum expands asset safeguarding further.
Historical integrations with platforms like Binance and Deribit show no immediate price change. However, these efforts led to increased institutional inflow and lower risk. The strategic aim continues to bolster asset protection through robust custody solutions.
Crypto and stablecoin infrastructure is evolving, and managing counterparty risks is essential for institutional adoption. Our partnership with Sygnum Bank not only gives clients access to Bybit’s industry-leading products and liquidity, but also ensures their assets are safeguarded with the highest standards of Swiss banking. Together, we are building a secure and transparent foundation for institutions to trade with confidence.
— Yoyee Wang, Head of Business-to-Business Unit, Bybit
