Is Sygnum Bank ok?
- Thread starter skyper
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They seems to be hard to onboard but that is to be expected with crypto, my primary concern is how legit they are and how safe are the funds with them? Where one could dig more about a swiss bank, like check banking licenses, reserves and etc whatever is necessary to examine if it's safe to keep 1M with them?
On their site they claim to have offices in UAE and Singapore as well as Switzerland, not sure if it's a show act to seem big or they are indeed legit international bank? Very hard to find anything specific for them online.
Those with experience︀ in doing detective work on banks, please do help! 🙂
On their site they claim to have offices in UAE and Singapore as well as Switzerland, not sure if it's a show act to seem big or they are indeed legit international bank? Very hard to find anything specific for them online.
Those with experience︀ in doing detective work on banks, please do help! 🙂
Yes, for being a bank, they are not too bad. Everything by the books.
Ideal if︀ your crypto comes from coinbase hodl.
Ideal if︀ your crypto comes from coinbase hodl.
Well, it's a Swiss bank.
1) (To the best of my knowledge) it never happened that a Swiss bank went bankrupt and clients lost their funds. When any bank had serious problems, another bank(s) always performed a takeover with all client obligations included.
2) (To the best of my knowledge) it never happened that when a Swiss subject had financial troubles and creditors went for their money, bond holders︀ were neglected. The subordinated bonds of Credit Suisse were cancelled with the takeover by UBS︁ just a couple of months ago.
Make your own conclusion 🙁
Banking licences and all the related information you can check with FINMA (Swiss regulator). Financials you︄ can check with the particular bank. All banks that are listed at the stock exchange︅ are obliged to publish it, another banks not but it is a common practice –︆ but beware, in many cases the latter offer it only to clients and finance professionals︇ (as wealth managers, introducers etc.).
Probably the best help you can get from︉ some experienced wealth manager or an independent financial analyst. IMO.
1) (To the best of my knowledge) it never happened that a Swiss bank went bankrupt and clients lost their funds. When any bank had serious problems, another bank(s) always performed a takeover with all client obligations included.
2) (To the best of my knowledge) it never happened that when a Swiss subject had financial troubles and creditors went for their money, bond holders︀ were neglected. The subordinated bonds of Credit Suisse were cancelled with the takeover by UBS︁ just a couple of months ago.
Make your own conclusion 🙁
Banking licences and all the related information you can check with FINMA (Swiss regulator). Financials you︄ can check with the particular bank. All banks that are listed at the stock exchange︅ are obliged to publish it, another banks not but it is a common practice –︆ but beware, in many cases the latter offer it only to clients and finance professionals︇ (as wealth managers, introducers etc.).
Probably the best help you can get from︉ some experienced wealth manager or an independent financial analyst. IMO.
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