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Swiss-Based Digital Asset Bank Sygnum Announces Collaboration with Major Crypto Options Exchange!

Switzerland-based digital asset bank Sygnum has expanded its crypto custody services to include Deribit, one of the world`s leading crypto options exchanges. Sygnum Bank Expands Custody Services to Deribit, Increasing Security for Investors According to the announcement shared today, this move aims to provide investors with enhanced asset security while maintaining access to Deribit’s deep liquidity. Sygnum and Deribit will now use Fireblocks’ “Off Exchange” solution, a custody service that allows investors to reflect their assets held at a regulated institution while actively trading on Deribit. This integration allows users to safely store their funds in a licensed bank and continue trading without the risk of leaving their assets on an exchange. The initiative comes amid growing concerns about counterparty risks, particularly following the $1.4 billion hack of Bybit by North Korea`s Lazarus Group last month. “Counterparty risk awareness in crypto comes in cycles, and the last major cyberattack triggered one of the largest waves of exchange de-risking since FTX,” said Dominic Lohberger, Chief Product Officer at Sygnum. Growing Need for Safe Storage Recent security breaches have increased demand for secure, regulated custody solutions in the crypto industry. By partnering with Sygnum, Deribit users can now store their assets with a licensed, regulated banking institution in Switzerland, Luxembourg, and Singapore, significantly reducing the risk of exchange vulnerabilities. Deribit, a dominant player in the crypto derivatives market, reported over $1 trillion in trading volume in 2024, with options trading alone exceeding $743 billion. As institutional and retail investors seek more secure alternatives to exchange-based custody, solutions like Fireblocks’ Off Exchange service are gaining traction. *This is not investment advice. Continue Reading: Swiss-Based Digital Asset Bank Sygnum Announces Collaboration with Major Crypto Options Exchange! CoinTurk News

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Experts Suggest Possibility of NFT ETF as Market Faces Skepticism from Traditional Investors

Recent discussions have reignited interest in the potential for an NFT ETF, despite skepticism from experts regarding its feasibility in the current market landscape. Following a provocative social media post CoinTurk News