Crypto bank Sygnum to open metaverse hub in Decentraland

Swiss crypto bank and asset manager Sygnum will open a hub in metaverse platform Decentraland at the end of September, the company announced on Thursday.

The hub will feature a CryptoPunk receptionist, NFT gallery and event space. It will also showcase the bank’s web3 product innovations and provide an entry point for investors into the metaverse economy.

“Our new metaverse hub is the natural place to showcase Sygnum’s Web3 innovations and provide a trusted entry point for investors into the fast-growing Future Finance economy,” said Martin Burgherr, Sygnum chief clients officer, in a statement.

This isn’t Sygnum's first foray into web3. It has previously tokenized a blue-chip NFT — Cryptopunk #6808 — the very same CryptoPunk which will now be its receptionist in Decentraland, and developed products such as regulated Ethereum staking on open blockchains.

It is also a member of the governing council of the South Korean metaverse blockchain Klaytn, which was recently revealed as the new blockchain partner for DeFi Kingdom's Serendale.

The space will officially launch to the public with a livestream event on Sept. 27.

Sygnum follows investment banking giant JPMorgan into Decentraland, which opened the Onyx Lounge in January. Named after its crypto-focused unit, when it opened it featured an image of bank CEO Jamie Dimon, which transforms into a jpeg image of Onyx's former leader Christine Moy.