HomeCryptoPortugal-based Bison Bank crypto subsidiary leverages Sygnum’s white-label platform
Portugal-based Bison Bank crypto subsidiary leverages Sygnum’s white-label platform
January 17, 2023
“Financial institutions must adhere to the highest standards of regulation, compliance and security when offering cryptocurrencies to their customer base. We are proud to partner with Sygnum and leverage their experience as crypto-natives and their established track record as we take our first steps into the digital asset market.”
Bison Digital Assets has partnered with Sygnum Bank to leverage its B2b platform to enable end customers to buy, sell and hold cryptocurrencies such as Bitcoin (BTC) and Ether (ETH).
The cryptocurrency subsidiary of Bison Bank is the first ‘Virtual Asset Service Provider’ (VASP) in Portugal wholly owned by a bank. It has received approval from the Portuguese regulator, Banco de Portugal. It is also one of the few in Europe.
The Hong Kong-based bank leverages Portugal-based crypto entity, Bison Digital Assets, to securely hold clients’ digital assets and create a regulated bridge between the traditional finance and cryptocurrency worlds.
Bison Digital Assets caters to self-directed investors, institutions and HNWIs
The partnership with Sygnum is part of its strategic goal of providing the best services to crypto-activated investors, institutions and High Net Worth Individual (HNWI) clients.
The B2B platform enables the acquisition of more Share-of-Wallets from existing customers along with additional market share via access to the global cryptocurrency market, the firm explained.
Sygnum’s B2B banking platform already enables 15 partners to create their own branded regulated digital asset footprint and maintain full control of customer relationships.
Sygnum offers a white label platform to banks and bank-backed VASPs
António Henriques, Chief Executive Officer of Bison Digital Assets, commented: “Financial institutions must adhere to the highest regulatory, compliance and security standards when offering cryptocurrencies to their client base. We are proud to partner with Sygnum and leverage their experience as crypto-natives and their established track record as we take our first steps into the digital asset market.”
Fritz Jost, Chief B2B Officer of Sygnum Bank, said: “The ability of banks to continuously innovate and expand customer choice is key to staying competitive and being fit for the future. Our B2B platform enables it quickly and with full compliance for Bison Digital Assets. This represents another trusted node in the expanding European crypto ecosystem and we look forward to partnering with banks and bank-backed VASPs that enable their end customers to invest in cryptocurrencies with complete confidence.”