Signum Bank integrates Bybit into custody platform
Summary
- Signum Bank said it has integrated the Bybit exchange into its custody platform 'Signum Protect'.
- Through this cooperation, Bybit's 75 million customers can store assets safely under Swiss bank regulations and using an off-balance-sheet method.
- Signum said it is expanding cooperation with leading exchanges to provide bank-grade security for institutional clients.
Global crypto asset (cryptocurrency) bank Signum said on the 9th that it has integrated the crypto exchange Bybit into its off-exchange custody platform 'Signum Protect'.
Through this cooperation, Signum Bank plans to provide Bybit's 75 million customers with the ability to store assets securely under Swiss banking regulations using an off-balance-sheet method. Collateral is reflected on the exchange in real time, and profits and losses are automatically settled every 8 hours.
Signum integrated Binance into its custody in April last year and Deribit into its custody in March this year.
Minik Røberg, Signum's Chief Customer Officer (CCO), said, "We are cooperating with leading exchanges so that institutional clients can trade while receiving bank-grade security," and added, "The Protect platform meets urgent market demand and is expanding rapidly."
Uk Jin
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