Swiss crypto bank and asset manager Sygnum announced at the end of September that it will open a hub on metaverse coin project Decentraland. The center will feature a CryptoPunk receptionist, NFT gallery and event space. It will also showcase the bank's Web3 product innovations. In addition, it will provide an entry point into the metaverse economy for investors.
Sygnum chief customer officer Martin Burgherr made a statement on the subject.
"Our new metaverse hub will be a natural place to showcase Sygnum's Web3 innovations and provide a reliable entry point for investors into the fast-growing Future Finance economy."
The Metaverse hub will officially open to the public with a livestream event on September 27. Such news of partnership and cooperation normally reflects positively on the price of an altcoin. However, positive news may not have an effect as the crypto market struggles to survive in winter conditions. MANA, the token of the Metaverse coin project, also did not benefit from this news. At press time, MANA was trading in the red, losing 1.11% on a daily basis.
This partnership is not Sygnum's first foray into Web3. It previously tokenized a blue chip NFT (Cryptopunk #6808). Now the same Cryptopunk will be Sygnum's receptionist in Decentraland. It has also developed products such as regulated Ethereum staking on public blockchains. He is also a member of the governing council of South Korean metaverse coin project Klaytn. Klaytn has recently emerged as the new Blockchain partner for DeFi Kingdom's Serendale.
Sygnum follows investment banking giant JPMorgan to Decentraland, which opened Onyx Lounge in January. Sygnum describes itself on its website as follows.
"An independently controlled, scalable and future-proof digital asset banking solution. With full control, Sygnum has a secure infrastructure to meet a variety of customer needs. It also has the agility to configure operations and future services."