Sygnum to Launch Crypto Fund With Moomoo in Singapore
Sygnum Singapore said it has partnered with brokerage Moomoo SG to distribute its multi-manager fund to accredited investors on its platform.
This partnership will make Moomoo in Singapore the first distribution partner for a Sygnum Singapore asset management product.
Moomoo Singapore is a regulated platform and holds the Capital Markets Services Licence and Major Payment Institution Licence issued by the Monetary Authority of Singapore.
Platform Reaches 1M Users
Moomoo Singapore is known for its digitalised brokerage and wealth management platform, which is aimed at retail and accredited investors.
In an announcement, Moomoo said the platform reached a major milestone in April 2024 by reaching 1 million users. The brokerage firm has a strong presence in Singapore’s financial sector.
Sygnum, is a digital asset bank with Swiss and Singaporean roots, provides innovative solutions across crypto banking, tokenisation, and asset management.
Sygnum Expands to Europe
Swiss and Singapore-based digital asset bank Sygnum recently expanded its operations to Europe by securing a crypto license in Liechtenstein.
In July, Sygnum reported a profitable first half of 2024, driven by strong business performance. The firm said it saw a 500% increase in crypto derivatives trading and a two-fold increase in crypto spot trading volumes, compared to the same period in 2023.
The bank said in Q1 2025, Sygnum will significantly expand its regulated footprint via a new office and licenses in the world’s biggest single market, the 30 countries comprising the European Union (EU) and European Economic Area (EEA).
Source: cryptonews.com
