Token

Sygnum, a leading digital asset bank, revealed that its subsidiary in Liechtenstein had secured a Token and Trusted Technology Service Providers Act (TVTG) license in the country. With this license, the digital bank’s arm can offer regulated services like crypto brokerage, custody, and banking services.
<h2 id="b-sygnum-eyes-expansion-to-eu-crypto-markets-b">Sygnum Eyes Expansion to EU Crypto Markets</h2>
The digital asset bank highlighted the importance of the new license as a key part of its expansion strategy. With this license, the digital bank is set to move forward with its initial plans to extend its services into the European Union (EU).
Sygnum disclosed its plans to apply to be a Crypto-Asset Service Provider (CASP) in Europe. <a href="https://thecoinrise.com/mica-framework-signed-into-law-by-eu-officials/" rel="noopener noreferrer nofollow">The EU’s Markets in Crypto-Assets Regulation (MiCA)</a> will allow the bank to expand its services across Europe and the broader European Economic Area (EEA).&nbsp;
The bank is preparing to ensure full compliance with the MiCA regulation, which Liechtenstein is set to incorporate into its legal framework by the first quarter of 2025. This move will grant Sygnum entry to all 30 EU and EEA markets, expanding its presence in the European market.
It will simplify offering various regulated crypto services in multiple countries. This diversification enhances Sygnum’s appeal to clients seeking compliant and secure ways to engage with digital assets. Notably, key industry players like Coinbase and <a href="https://thecoinrise.com/circle-achieves-milestone-as-first-eu-approved-stablecoin-issuer/" rel="noopener noreferrer nofollow">Circle are in the queue for the CASP license</a>.&nbsp;
<h2 id="b-crypto-sees-widespread-adoption-in-europe-b">Crypto Sees Widespread Adoption in Europe</h2>
Crypto adoption in Europe is on the rise, fueled by clear regulatory frameworks like the MiCA, which provide legal certainty for businesses and investors. Growing acceptance among businesses like <a href="https://thecoinrise.com/gemini-continues-european-expansion-as-it-enters-six-nations/" rel="noopener noreferrer nofollow">Gemini,</a><a href="https://thecoinrise.com/unbanked-and-mastercard-team-up-to-accelerate-crypto-card-adoption-within-web3-organizations-in-europe/" rel="noopener noreferrer nofollow"> Unbanked</a>, <a href="https://thecoinrise.com/circle-achieves-milestone-as-first-eu-approved-stablecoin-issuer/" rel="noopener noreferrer nofollow">Circle</a>, and a vibrant fintech ecosystem also contribute to this trend.&nbsp;
Interestingly, the European market is said to offer a well-established framework for digital assets and provides opportunities for companies to tap into a large and diverse customer base.
<h2 id="b-liechtenstein-s-crypto-friendly-environment-b">Liechtenstein’s Crypto-Friendly Environment</h2>
Central Europe has been at the forefront of crypto regulation in Europe, with favorable policies for blockchain and crypto businesses. It has gained recognition as a center for blockchain and digital assets following the introduction of the TVTG agency in early 2020. This regulatory structure has positioned Liechtenstein alongside Switzerland as a global leader in digital asset regulation.
Sygnum’s decision to expand into Liechtenstein aligns with the jurisdiction’s support for innovation in digital finance.
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The post <a href="https://thecoinrise.com/sygnum-secures-liechtenstein-license-as-a-crypto-asset-service-provider/" rel="noopener noreferrer nofollow">Sygnum Secures Liechtenstein License as a Crypto Asset Service Provider</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Sygnum Secures Liechtenstein License as a Crypto Asset Service Provider

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