Ticino cantonal bank BancaStato has launched regulated cryptocurrency trading through a new integration with Sygnum and banking technology provider Avaloq. According to reports from crypto.news, Cointelegraph, and Odaily Planet Daily, clients can now trade Bitcoin, Ethereum, Litecoin and Solana directly through existing web and mobile applications. The service connects Sygnum's business-to-business digital asset infrastructure directly with BancaStato's Avaloq core banking environment, allowing customers to place market orders based on cryptocurrency amount or U.S. dollar value. As reported by Cointelegraph, BancaStato is the first bank using Avaloq's software-as-a-service platform to let customers buy, hold and sell crypto assets through its e-banking platforms using Sygnum's API. Curzio De Gottardi, Head of the bank's Products and Services Division and Vice-Chairman of the Executive Board at BancaStato, stated that the seamless integration of traditional investment solutions and digital assets further strengthens their group's future-ready offering.
The setup uses Sygnum's B2B API without requiring BancaStato to operate a separate order management system. As reported by crypto.news, Cointelegraph, and Odaily Planet Daily, this structure reduces technical complexity and allows the bank to adjust trading features while using its existing Avaloq systems. Sygnum provides the digital asset trading infrastructure and holds customer crypto in its institutional custody system using hardware and software controls, governance procedures and external audits. The company holds client digital assets off its own balance sheet under applicable legal framework. According to Cointelegraph, the integration connects Sygnum's application programming interface (API) directly to Avaloq's platform, allowing customers to access crypto trading from their existing banking app. Christian Haux, Managing Director for Switzerland and Liechtenstein at Avaloq, noted that integrated infrastructure allows banks to respond more quickly to changing investor expectations while keeping services on a unified platform. The integration now enables customers to analyze support and resistance levels for major cryptocurrencies directly within the bank's apps.
The launch makes BancaStato the first Avaloq SaaS bank to offer Sygnum-powered crypto trading through an API. According to crypto.news, Cointelegraph, and Odaily Planet Daily, the integration lets clients manage traditional and digital assets through one banking relationship. BancaStato serves customers in the Italian-speaking region of Ticino canton and has operated as a Swiss cantonal bank since 1915. The partnership further expands Sygnum's role as a digital asset infrastructure provider to traditional financial institutions. Fritz Jost, Sygnum's Chief B2B Officer, described the launch as demonstrating growing demand for Sygnum's regulated, API-based digital asset services that can be integrated directly into existing core banking systems. The setup means clients do not need to use a separate platform for their crypto investments and can view and manage traditional and digital assets within the same banking environment.
BancaStato joins more than 25 banks and financial institutions using Sygnum's B2B platform, including PostFinance, Zuger Kantonalbank, SocGen FORGE, and Bordier & Cie. As reported by crypto.news, Cointelegraph, and Odaily Planet Daily, Sygnum's partner banks give more than one-third of Switzerland's population access to digital asset services. The network has expanded steadily, with Sygnum having already onboarded more than 20 financial institutions by June 2024. Sygnum's banking partners include Societe Generale-FORGE, PostFinance and VZ Depotbank. The partnership further expands the depth and breadth of Sygnum's B2B network in the Ticino region of southern Switzerland, with BancaStato joining industry leaders representing the full spectrum from systemically important and cantonal banks to universal, private, and retail financial institutions.
The BancaStato launch follows Sygnum's latest regulatory expansion in Europe. On June 30, Sygnum Europe said it had moved into operation under a Crypto-Asset Service Provider license issued in Liechtenstein under the European Union's Markets in Crypto-Assets Regulation. According to crypto.news, Cointelegraph, and Odaily Planet Daily, Sygnum has positioned its bank-to-bank model as an option for financial institutions that do not want to build crypto trading and custody systems from scratch. The infrastructure allows partner banks to keep their customer interfaces while connecting to Sygnum through APIs. As reported by Cointelegraph, the license came shortly before the end of the Markets in Crypto-Assets Regulation transitional period on July 1, allowing Sygnum Europe to provide regulated crypto asset services under MiCA. Sygnum announced in late June that its Liechtenstein-based subsidiary, Sygnum Europe AG, received the crypto-asset service provider (CASP) license from Liechtenstein's Financial Market Authority (FMA), enabling EU banks to leverage Sygnum's experience to reduce risk, time-to-market and capital requirements when launching regulated digital asset services.
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