Switzerland-based digital asset bank Sygnum has announced that Ripple’s XRP tokens are now available through its banking services platform. Users can access deposit, exchange, and credit services using the popular digital currency.
Sygnum customers can use deposits in traditional currencies, such as the Swiss franc, the Euro, the Singapore dollar, and the US Dollar, to buy, hold and trade XRP tokens backed by the Ripple protocol.
Mathias Imbach, co-founder of Sygnum, praised the announcement and commented as follows:
“We were impressed with Ripple’s excellent performance globally – they now have more than 300 financial institutions in their global payments network, RippleNet. The XRP-based solutions developed by the company resolve weak spots in the growing global remittance market of $ 700 billion. The low cost of transfers makes it an ideal tool to facilitate payments in emerging economies.”