Crypto Bank Sygnum expands its custody platform to include the world’s leading option, Exchange Deribit.
Sygnum and Deribit are currently leveraging Crypto Custodian Fireblocks’ “Off Exchange” service.
This will allow traders to retain assets in regulated banks while continuing to access DERIBIT’s deep liquidity, according to an announcement shared with Coindesk on Wednesday.
Last month, traders received a reminder welcoming the dangers of keeping their assets on the exchange with a $1.4 billion hack buybit by North Korean group Lazarus.
“Crypto’s counterparty risk awareness has become a cycle, and recent major cyber attacks have caused one of the biggest waves of exchange delisking since FTX,” said Dominic Lohberger, chief product officer at Sygnum.
Zurich-based Sygnum, which has received a valuation of over $1 billion following the $58 million funding round in January, is licensed natively in Switzerland and Singapore.
Derivit is one of the world’s leading derivative exchanges with trading volumes exceeding $1 trillion in 2024. That option alone reached $743 billion.
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