Bybit Partners with Sygnum to provide Swiss-regulated off-exchange custody to institutions
, the second largest cryptocurrency platform in the world in terms of trading volume, has revealed a strategic collaboration with Sygnum, the world-renowned digital assets banking group, to give institutional customers secure, off-platform custody, using the Sygnum Protect platform.
The partnership enhances the reputation of Bybit as a reliable institutional investor through its wide range of products and liquidity, as well as bank-style protection of Swiss-regulated custody. Sygnum Bank is now able to place assets off-balance sheet with institutional clients; the spot and derivatives can be traded directly on Bybit. Trading P&L is automatically settled every eight hours and the balances are reflected immediately on the platform making capital efficiency and complete operational transparency.
A New Institutional Security Frontier
Sygnum Protect has become the largest bank-run off-platform custody platform, encompassing platforms which collectively account to over 50 percent of global spot and derivatives trading volumes. Being a newcomer into this ecosystem, Bybit is proven to be the provider of institutional investors with the highest level of security, resilience, and trust.
The platform implements numerous protection tiers, such as sophisticated hardware-software controls, stringent governance measures, independent audits and bankruptcy-remote asset custody as provided in . These measures make sure that the institutional assets are not exposed even in the volatile or strained times of the market.
Growing Custody Network Bybit
Bybit has already established a large network of custody partners, such as Fireblocks, Copper and Cactus, which provides clients with the opportunity to protect their digital assets flexibly. This strategy will be advanced by the integration of the Sygnum Bank that will introduce regulated, bank-grade custody to the institutional ecosystem of Bybit.
“Crypto and stablecoin infrastructure is evolving, and is essential for further institutional adoption,” said Yoyee Wang, Head of Bybit’s Business-to-Business Unit (BBU). “Our partnership with Sygnum Bank not only gives clients access to Bybit’s industry-leading products and liquidity, but also ensures their assets are secureguarded with the highest standards of Swiss banking. Together, we are building a to trade with confidence.”
“Sygnum Bank remains committed to working with leading platforms to enhance the resilience of the crypto industry and empower institutions to trade with peace of mind,” said Dominic Lohberger, Sygnum Chief Product Officer. “The rapid adoption of Sygnum Protect by institutional clients trading on , Deribit, and now Bybit, demonstrates the urgent need for bank-grade, off-balance sheet custody answers. We are delighted to welcome Bybit to our growing network of integrated platforms.”
Looking Ahead
Following the introduction of automated collateral transfers between platforms as the next step in the Sygnum Protect roadmap, will be improved, and the institutions will become more flexible in their asset allocation choices.
This partnership restates the vision of Bybit of creating a secure, transparent, and innovative trading environment. With licensed custody and enhanced trading infrastructure, Bybit puts the institutions in the right position to prosper in the emerging digital asset economy.
