Bitcoin and banking may at first glance sound like two worlds that don’t naturally belong together. One grew from the idea of financial independence and the ability to hold value without intermediaries, the other is built on regulation, trust, and institutional infrastructure. Yet the convergence of these two worlds is today one of the most visible trends in the digital assets space.
This was also discussed at this year’s BTC Prague 2026 conference, which took place in Prague from June 11 to 13 and brought together representatives from the Bitcoin world, technology companies, investors, and financial institutions. One of the guests was Pascal Eberle, Chief of Staff at Swiss bank Sygnum.
Sygnum is among the best-known regulated banks focused on digital assets. The institution built on Swiss-Singaporean foundations describes itself as a bank whose goal is to make digital assets safer, more accessible, and more comprehensible for institutional and qualified private investors.
At BTC Prague, we therefore spoke with Pascal Eberle about what it actually means to be a bank for digital assets, why some investors might prefer a regulated institution over self-custody when it comes to Bitcoin, how banks’ relationship with cryptocurrencies is changing, and whether Bitcoin can become a standard part of financial offerings similar to stocks, bonds, or ETFs.
To start, could you briefly explain your role to our readers? What exactly is your position at Sygnum and what do you focus on at the bank?
At Sygnum, I serve as Chief of Staff, which means I support our CEO in the day-to-day execution of strategy. I also lead the CEO Office team, which works on strategic projects, artificial intelligence, and data analytics. In addition, I’m co-developing an initiative called Bitcoin@Sygnum, which is a strategic program focused on developing Bitcoin topics, products, and technologies within our digital asset bank.
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Sygnum presents itself as a regulated bank for digital assets. For the average reader, however, that may sound quite abstract. What does this actually mean in practice and what makes Sygnum exceptional compared to traditional banks?
First and foremost, we are a bank like any other. In Switzerland, there is only one type of banking license, and we have the same license as any other Swiss bank.
What makes us exceptional is our clear focus on digital assets from the very beginning, that is, from our founding in 2018. Our original goal was to connect what we call the future of finance, meaning cryptocurrencies and Bitcoin, with the traditional financial world. Our co-founders always believed that the future has its heritage. That’s why it made sense for us to operate within the existing regulatory environment as a regulated bank while integrating new technologies into it. That was Sygnum’s founding idea.
In practice, we operate like any other Swiss bank, but we have a specific client focus. We don’t serve retail clients; rather, we’re comparable to a Swiss private bank, as many of our private clients are very high-net-worth individuals. At the same time, we serve a number of institutional clients, family offices, funds, hedge funds, and companies operating in the digital asset space who are looking for a bank that truly understands their environment.
Looking directly at services, how does a digital asset bank differ from a traditional bank as most people know it?
Under the surface, the main difference is the range of assets we offer within one integrated platform. With us, you can have fiat accounts in Swiss francs, US dollars, euros, or other currencies. At the same time, you can hold traditional securities, namely bonds, stocks, and similar assets.
Simultaneously, you can hold digital assets with us, such as Bitcoin, other cryptocurrencies, stablecoins, tokenized assets, and more. All of this is accessible through our e-banking as one integrated offering. Traditional banks typically don’t provide this level of integration because they lack the infrastructure, expertise, or regulatory approval to custody digital assets. We built all of this from the ground up.
With Bitcoin, the principle of self-custody is often emphasized – the ability to hold it without a bank, without an intermediary, and fully under your own control. So why should anyone use a bank at all?
That’s an excellent question and touches on something I consider the most beautiful thing about Bitcoin: there are many different ways to hold it, and different approaches suit different people.
Personally, I’m a big advocate of self-custody. I think it’s great because it provides an excellent user experience. When you practice it, you come into direct contact with the technology itself, and I find that very empowering. At the same time, it may not be the right approach for everyone.
Some clients, especially institutional investors, operate according to specific rules and constraints. Many institutions must work with regulated counterparties that are audited and can provide security guarantees. In such cases, it makes more sense to hold Bitcoin through a regulated custodian than independently.
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When you talk about institutional and private clients, what type of clients typically come to Sygnum? Are they mainly large institutions, or also individuals interested in Bitcoin as investors?
We serve five types of clients. The first group consists of private clients and family offices, namely high-net-worth individuals who invest in Bitcoin and digital assets either because they themselves come from the crypto world or because they’re interested in building exposure to this space.
The second group consists of external asset managers and multi-family offices. The third group comprises companies from the cryptocurrency ecosystem, such as market makers, miners, or cryptocurrency foundations, who are looking for a bank that speaks their language, understands how they operate, and can properly assess associated risks. Historically, many other banks simply wouldn’t accept them, although that’s gradually changing.
The fourth group consists of funds and hedge funds, namely sophisticated professional investors seeking institutional exposure. The fifth group is actually other banks. We act as a sub-custodian and technology provider, enabling them to offer digital assets to their own clients. We work with more than twenty banks in Switzerland and Europe. A prominent Swiss example is PostFinance, a large, partially state-owned bank that serves more than a million retail clients. If you use their app, you can simply activate cryptocurrencies and trade or hold them. In the background, Sygnum provides the infrastructure.
Do you think banks can bring Bitcoin and other digital assets closer to people who are still afraid of cryptocurrency exchanges, don’t understand them, or want a clearer legal and regulatory framework?
Yes, I do. Especially in Switzerland, a bank is the most highly and strictly regulated type of financial services provider. While this brings thorough oversight, it also provides clients with a high degree of security and legal certainty. As a Swiss bank, we clearly show our clients what legal and regulatory framework our operations are governed by, and that’s very important for both individuals and institutions.
What do you think a regulated bank can bring to the Bitcoin world that cryptocurrency exchanges cannot offer?
I think we mainly help certain institutional clients gain exposure to Bitcoin in a way that meets their specific needs. These clients often cannot work directly with an exchange because their internal rules and constraints require working with regulated counterparties, namely entities that are audited and offer legal protection in case of insolvency, as I mentioned earlier.
In recent years, we’ve been watching Bitcoin gradually enter the offerings of major financial institutions. Do you think it could become a standard banking product in the future, similar to stocks, bonds, or ETFs?
I believe so, and we’re already seeing this trend very clearly today. Major American financial players are gradually entering this space. BlackRock, the world’s largest asset manager, launched the first Bitcoin ETF, and the latest filings come from heavyweights like Morgan Stanley and Goldman Sachs. Other major institutions, such as Charles Schwab and Fidelity, have started recommending Bitcoin allocations to their clients.
All of this shows that Bitcoin is truly heading toward becoming a mainstream financial product. In my opinion, it reflects the clear trend of institutional adoption that we’re seeing today.
If you had to briefly explain why a client interested in Bitcoin and digital assets should consider Sygnum specifically, what would you tell them?
I think Sygnum represents a unique combination of two worlds. We’re a Swiss bank, so we offer the trust and reputation of a regulated Swiss institution, and at the same time we connect this heritage with the exciting and innovative world of Bitcoin and digital assets.
If you want the trust and infrastructure of a Swiss bank while also being able to explore Bitcoin and leverage its potential, it can be a very compelling combination. In my opinion, Bitcoin is a truly interesting asset and part of the future of finance.
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Photo source: Pascal Eberle’s archive
Background source: Adobe Stock / With permission
