BancaStato Offers Crypto Trading Through Integration with Sygnum
Synopsis of BancaStato's Crypto Integration
BancaStato, the cantonal bank for Switzerland's Italian-speaking Ticino region, has added cryptocurrency trading through a partnership with Sygnum and Avaloq.
Through this integration, clients can buy, hold, and sell Bitcoin, Ether, Litecoin, and Solana directly within their existing web and mobile banking applications. Market orders can be entered by asset quantity or cash value, allowing customers to manage crypto positions alongside traditional portfolios.
The service connects Sygnum's digital asset infrastructure directly to BancaStato's Avaloq core banking environment. Trades are routed through Sygnum's application programming interface without a separate order management system. Digital assets held by clients are stored through Sygnum's institutional custody platform, which uses layered hardware and software controls, governance procedures, and external audits.
Since BancaStato is the first bank using Avaloq's software-as-a-service banking environment to connect directly to Sygnum's crypto platform through an API, the integration brings Sygnum's B2B network to over 25 banks and financial institutions.