Sygnum Integrates Crypto Exchange Bybit Into Over-the-Counter Custody

(CONNECT) Sygnum has announced that it is the first bank to offer Bybit off-exchange custody: The world's second-largest crypto exchange by trading volume, which is based in Dubai and has over 75 users, is now integrated into the Sygnum Protect off-exchange custody platform.

Assets are protected from hacks, unauthorized withdrawals or stock market insolvencies in offline storage with a regulated third-party custodian such as Sygnum Bank. Collateral held at Sygnum is mirrored in real time at Bybit and is available for trading.

"The infrastructure for cryptocurrencies and stablecoins continues to evolve, and counterparty risk management is critical to further institutional adoption," Yoyee Wang, head of the business-to-business unit at Bybit, is quoted as saying. "Our partnership with Sygnum Bank not only gives our clients access to Bybit's industry-leading products and liquidity, but also ensures that their assets are protected to the highest standards of Swiss banking."

Sygnum has seen increasing demand from institutional clients since the launch of its over-the-counter custody solution with Binance in April 2024 and further expansion with Deribit in March 2025. The member exchanges now account for over 50 percent of the global volume of spot and derivatives trading. According to Sygnum's Head of Product Dominic Lohberger, this shows "the market's urgent need for off-balance sheet custody solutions suitable for banks". ce/mm