Fri, February 07, 2025

Crypto Bank, Ripple’s XRP Tokens and New Opportunities

Cryptocurrencies and new opportunities, tokenisation

Sygnum Bank is the first crypto bank licensed by the Swiss Financial Market Supervisory Authority (FINMA). Recently, the worlds’ first crypto bank made an important announcement.

According to this announcement, from now on Ripple’s XRP tokens are available through its banking services platform. As a result, customers can access deposit as well as exchange, and credit services using this major cryptocurrency.

It is worth mentioning that, XRP is the third most capitalized digital token after Bitcoin and Ethereum. This cryptocurrency is ideal for clients who would like to diversify their direct investments in digital tokens. Thanks to the bank, based in Switzerland customers will be able to accomplish this goal.

Moreover, clients of this bank can use deposits in traditional currencies such as the Swiss Franc, the Euro, Singapore Dollar as well as the U.S. Dollar. It means that customers will be able to use fiat currencies to buy, hold, and trade XRP tokens backed by the Ripple’s protocol.

Sygnum bank and crypto industry

Cryptocurrencies and Switzerland
Moreover, clients can transfer XRP tokens to their Sygnum deposit account. Also, it is possible to increase their liquidity in fiat currencies with a Lombard loan granted by the XRP.

Sygnum Bank’s co-founder Mathias Imbach commented on this topic. Mathis Imbach, talked about the Ripple’s performance around the globe. For example, they have more than 300 financial institutions in their global payments system RippleNet.

Ripple offers other advantages as well. The bank underlined the importance of Ripple’s protocol. This protocol provides instant cross-border transfers at a low cost, instead of the traditional method of sending money abroad.

      • Interested in Trading Bitcoin or Ripple? Read WiBestBroker’s comprehensive review on Uptos.

However, this is not the first case when a bank made the decision to incorporate Ripple’s protocol in its operations. For example, a digital money service, in cooperation with the bank from Thailand called Siam Commercial Bank launched an instant cross-border payment service through RippleNet.

YOU MAY ALSO LIKE

Число заявок на пособие по безработице в США сократилось на 2 000, что свидетельствует о стабильности рынка труда в условиях высоких ставок, а дальнейшие действия ФРС будут иметь решающее значение для экономической стабильности.

Quick Overview Unemployment Claims Dip: Jobless claims fell by 2,000 to 231,000,

Стерлинг достиг отметки $1,32: рост, риски и перспективы

Quick Look Sterling’s Surge: The British pound has surged to a 2.5-year

Доу Джонс вырос на 243 пункта, установив новый рекорд на отметке 41 335,05

Quick Overview Dow Jones Hits Record: The DJIA rose by 243.63 points,

COMMENTS

Leave a Comment

Your email address will not be published. Required fields are marked *

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spreads
    Sending
  • Trading Instument
    Sending

BROKER NEWS

BROKER NEWS