The Swiss crypto bank Sygnum is gaining popularity among customers by offering traditional securities and financial products. Despite the ongoing “Crypto Winter,” Sygnum, one of the two licensed crypto banks in the financial center, announced that its traditional financial offerings have attracted significant customer interest. In addition to its core portfolio of crypto investments, Sygnum provides securities such as stocks, bonds, and exchange-traded index funds.

This old-school offering has generated “several billion francs” of demand for the fintech company. The trading volume at the beginning of September surpassed last year’s figures, and net new money has tripled, although exact figures were not disclosed. Sygnum believes that by diversifying into traditional assets, its clients are preparing for the next digital asset bull market.

However, the crypto scene is currently experiencing a downturn. With low valuations of tokens and coins, players in the industry are struggling to attract fresh capital. The third quarter saw record lows in both total funding amounts and the number of transactions. Additionally, the ongoing trial against Sam Bankman-Fried, the founder of the failed crypto exchange FTX, continues to cast a shadow over market activity.