Switzerland’s Luzerner Kantonalbank (LUKB) has joined forces with Sygnum, Fireblocks, and Wyden for a fully integrated solution for trading, custody, and transaction monitoring of crypto assets to its 300,000 clients.

Sygnum is the world’s first digital asset bank, Fireblocks, is an enterprise-grade digital asset operations and direct custody technology provider, and Wyden, is an institutional digital asset trading technology provider.

The setup will be seamlessly integrated into LUKB’s core banking system and offers complete automation of the entire crypto asset lifecycle.

LUKB, a fully licensed universal bank, plans to offer crypto assets to its clients by the end of 2023 at the earliest.

Marcel Hurschler, CFO at LUKB said,

“Luzerner Kantonalbank AG continues to support its customers as a reliable partner and with innovative solutions. That’s why we have worked intensively on digital assets and built up inhouse expertise.

 

We are currently developing a customer solution for the secure custody, transfer and trading of crypto and digital assets, and plan to launch our offering at the end of 2023 at the earliest. Sygnum, Wyden and Fireblocks are providing us with crucial technology for our development, and we are looking forward to working with them.”

Mathias Imbach, Co-founder and Group CEO of Sygnum said,

“The market entry of LUKB is further proof of the rapid institutional adoption of digital assets and will provide secure and compliant access to digital assets to a broader part of the Swiss population.

 

Luzerner Kantonalbank’s strategic partnership with industry leaders Sygnum Bank, Fireblocks and Wyden clearly demonstrates the strength of institutional-grade technology providers joining forces in Switzerland and beyond.”

Featured image credit: (from L-R) Mathias Imbach, Sygnum Co-Founder and Group CEO, Fireblocks CEO, Michael Shaulov, Wyden CEO Andy Flury and Marcel Hurschler, CFO at LUKB