Zuger Kantonalbank, a Swiss universal bank, has expanded its cryptocurrency services to include Cardano (ADA) and Avalanche (AVAX) through a partnership with Sygnum, a leading crypto-focused Swiss bank.
Growing Demand for Crypto Investments
According to Sygnum’s March 17 announcement, the bank’s decision to add ADA and AVAX was driven by rising customer demand and growing regulatory clarity in both the U.S. and E.U.. The move also aligns with the establishment of a U.S. Strategic Bitcoin Reserve, signaling increasing institutional confidence in digital assets.
Zuger Kantonalbank customers can now access fiat-to-crypto transactions through Sygnum’s gateway, with e-banking and mobile app integration making crypto trading more accessible for clients.
Banking Leaders Support Crypto Adoption
Jan Damrau, Zuger Kantonalbank’s Head of Corporate Management and Executive Board Member, emphasized that the integration of Cardano and Avalanche allows clients to diversify their crypto portfolios conveniently within their primary banking services.
“At a time when digital assets are approaching a global inflection point in terms of adoption, our clients can further develop their crypto portfolios with their principal bank.” — Jan Damrau
Fritz Jost, Chief B2B Officer at Sygnum, highlighted that Zuger Kantonalbank’s token expansion reflects the strong demand for digital assets beyond Bitcoin and Ethereum.
“The latest expansion of Zuger Kantonalbank’s token universe illustrates the strong demand for additional tokens with diverse use cases to complement major protocols like Bitcoin and Ethereum.” — Fritz Jost
Sygnum’s Role in Crypto Banking Growth
Sygnum has been a major player in bridging traditional banking and crypto. Earlier this year, Sygnum raised $58 million in its Strategic Growth Round, pushing its valuation past $1 billion and securing its status as a unicorn. The oversubscribed funding round was led by Fulgur Ventures, a Bitcoin-focused venture capital firm, with participation from new and existing investors as well as Sygnum team members.
A Milestone in Institutional Crypto Adoption
The addition of ADA and AVAX to Zuger Kantonalbank’s crypto services marks another milestone in the mainstream adoption of digital assets by traditional financial institutions. With increasing regulatory clarity and strategic investments, Swiss banks are setting a precedent for integrating cryptocurrencies into conventional banking services.
