Swiss crypto bank Sygnum announced a partnership with Nu Global, the operating company behind Latin America's largest digital bank, to supply the Krypto and banking infrastructure for its international expansion.
Nu Global, which counts more than 140 million customers across Brazil, Mexico and Colombia, will leverage Sygnum's platform to offer clients the ability to buy, hold and trade selected cryptocurrencies and stablecoins, convert between fiat currencies and digital assets, and receive custody services for those holdings. The partnership is operated through Nu Global AG, headquartered in Zug, Switzerland.
Nu Global is positioned as an international multi-currency account available in more than 35 countries, offering cross-border transfers alongside digital dollar and euro products. On its Swiss website, Nu is advertising annual interest rates of 3.5 percent on digital dollars and 2.2 percent on digital euros.
Sygnum is providing bank guarantees for Nu Global's customer assets, structured in compliance with Swiss regulatory requirements, the companies said.
The deal marks a significant step in Sygnum's growing B2B segment, which supplies other financial institutions with infrastructure for digital asset services. Existing partners in the network include PostFinance, Zuger Kantonalbank and VZ VermögensZentrum. According to Sygnum, its B2B platform already gives more than a third of Switzerland's population access to regulated digital asset services through its partner institutions.
Sygnum aims to build one of Europe's largest regulated bank-to-bank networks for digital assets by customer reach by 2027, the bank said.
The partnership also follows Sygnum's acquisition in June of a crypto-asset service provider (CASP) license through its Liechtenstein subsidiary under the EU's Markets in Crypto-Assets (MiCAR) regulation, granting direct access to the entire EU and European Economic Area market.
"Nu Global's decision to partner with Sygnum is a strong validation of our B2B platform and its ability to support digital asset services at a global scale," said Fritz Jost, Sygnum's Chief B2B Officer.
Thomaz Fortes, general manager of Nu Global AG, called the Swiss launch the next step in building the company's international business and described Switzerland as the starting point for further global expansion.
