Catenaa, Saturday, March 29, 2025-Swiss lender Zuger Kantonalbank has expanded its cryptocurrency offerings to include Cardano (ADA) and Avalanche (AVAX) through a partnership with Sygnum Bank.
The expansion, announced by Sygnum on March 17, comes in response to increased customer demand and growing regulatory clarity in the U.S. and E.U. The partnership allows Zuger Kantonalbank customers to buy and manage ADA and AVAX via e-banking and its mobile app, using Sygnum’s fiat-to-crypto gateway.
“The addition of ADA and AVAX enables our clients to expand their crypto portfolios with their principal bank,” said Jan Damrau, Zuger Kantonalbank’s head of corporate management. He noted that digital assets are nearing a global adoption inflection point.
Sygnum’s chief B2B officer, Fritz Jost, emphasized strong demand for alternative tokens beyond Bitcoin and Ethereum. The Swiss bank, known for its crypto-focused services, has played a key role in expanding institutional access to digital assets.
Earlier this year, Sygnum raised $58 million in an oversubscribed Strategic Growth Round, pushing its valuation above $1 billion. Investors included Bitcoin-focused venture capital firm Fulgur Ventures and existing Sygnum backers.
Zuger Kantonalbank’s move reflects a growing trend among Swiss financial institutions embracing digital assets as regulatory frameworks solidify.
