Sygnum to offer banking services to Aave, Uniswap, and other DeFi tokens
Sygnum, is a Switzerland-based asset Bank, launched new banking services for DeFi tokens, attracting professional investors to the DeFi market.
The banks launched regulated banking services for Aragon [ANT], Curve [CRV], Maker [MKR], Synthetix [SNX], 1inch [1INCH] along with Aave [AAVE] and Uniswap [UNI]. Additionally, it will also provide trading and custody for USD coin [USDC].
Head of Business Units at Sygnum Bank, Thomas Eichenberger stated:
“The innovations in the DeFi space have the potential to transform many of the existing traditional use cases in the financial industry. They also offer opportunities to build and create new, cutting-edge digital asset products and services offering very attractive return profiles for our clients, especially in a continued low interest environment.”
The total value locked in DeFi has hit $60 billion already and it is expected to grow further. However, in May the trading volume and transaction number took a large dip. But this dip brought low fees and interest back. As Bitcoin held to a value close to $40,000 DeFi tokens have also been marching, often returning higher profits than the largest crypto.
