Sygnum and Incore Expand Digital Asset Partnership

Sygnum Bank and Incore Bank have expanded their six-year partnership to strengthen B2B digital asset banking infrastructure across their respective networks. 

The enhanced collaboration will see Incore Bank's clients gain access to Sygnum's institutional digital asset platform and custody services.

The partnership builds on an existing relationship that began in 2019, when Incore Bank began providing traditional security custody and brokerage services to Sygnum. 

Incore Bank has also handled custody for Sygnum's asset management products during this period.

Under the expanded arrangement, Incore Bank will integrate Sygnum's modular B2B digital asset platform to serve its network of banks, financial intermediaries, fintechs and corporate clients. 

The platform provides institutional-grade digital asset services including custody, trading and settlement infrastructure.

Early access to digital products

Network members of Incore Bank will receive priority access to new digital asset products developed by Sygnum. 

The partnership aims to provide what both banks describe as future-proof infrastructure to support institutional adoption of digital assets.

Both Sygnum and Incore Bank received regulatory approval from the Swiss Financial Market Supervisory Authority (FINMA) for digital asset banking services. 

Switzerland became one of the first European jurisdictions to establish comprehensive regulation for digital asset banking operations.

The partnership reflects broader institutional movement into digital assets across European markets. 

Traditional banks have increasingly sought partnerships with digital asset specialists to serve client demand while managing regulatory compliance requirements.

Incore Bank operates as a B2B transaction bank serving institutional clients across Switzerland and internationally. 

The bank's network includes traditional financial institutions, fintech companies and corporate treasury departments seeking digital asset exposure.

Platform integration timeline

Sygnum operates digital asset banking services across Switzerland, Singapore and Luxembourg. The bank provides custody, trading and lending services for institutional clients including banks, asset managers and corporate treasuries.

The expanded partnership will see technical integration of Sygnum's platform infrastructure with Incore Bank's existing systems. Both banks indicated the integration process has commenced, though neither provided specific timelines for completion.

Fritz Jost, Chief B2B Officer at Sygnum Bank, says the partnership addresses growing institutional demand for digital asset infrastructure. 

“Sygnum's B2B infrastructure provides the security, scalability, and flexibility that the industry needs, as well as the innovative products that end-customers increasingly demand,” Fritz says.

Regulatory framework supports expansion

Switzerland's regulatory framework for digital assets has attracted international banks seeking compliant operations. 

FINMA's banking licence requirements for digital asset services include capital adequacy, risk management and operational security standards equivalent to traditional banking.

The partnership leverages both banks' existing regulatory permissions to serve cross-border institutional clients. 

Sygnum's multi-jurisdiction licences complement Incore Bank's Swiss banking network and correspondent banking relationships.

Mark Dambacher, CEO of Incore Bank, says the expansion reflects client demand for comprehensive digital asset services. 

“As a highly recognised B2B service provider for traditional and digital assets, it is our great pleasure to expand our partnership with Sygnum, as a truly dynamic global player, to our extensive community and partner for traditional asset services,” Mark says.

“In return, we are excited to expand our universe of crypto asset products by partnering with Sygnum and herewith strengthen Incore Bank's digital assets offering.”