Christopher Giancarlo, former chairman of the US Commodity Futures Trading Commission (CFTC), joined the Sygnum in a counselor, in which he will help the Crypto Bank navigate global regulations amidst the institutional interest in digital assets.
Giancarlo’s appointment as a senior policy advisor places him with 11 other members of the Sygnum Advisory Council, the company disclosed on May 27.
In his role, Giancarlo will advise regulations and strategic partnerships with both the public and private sector.
Sygnum is a Swiss banking group dedicated to providing crypto asset services. It is often called the first digital asset bank, having Unicorn status recently achieved Following a $ 58 million funding.
Giancarlo, who led the CFTC between 2017 and 2019, said he joined the Sygnum at a time near the global digital asset industry near the adoption of institutional adoption.
Giancarlo got the “Crypto Dad” moniker for his advocacy for digital ownership, especially in the United States. In 2023, he said a sweeping of the political transfer to Washington, DC, was required to make a pro-industrial law.
That shift appeared to materialize following the success of Donald Trump’s presidency in November.
However, shortly after the election, Giancarlo has quash That he will succeed with the outgoing Securities and Exchange Commission chair Gary Gensler. He also shot reports that he was interested in a crypto -related role in the US treasury.
Related: Sygnum adds off-exchange crypto precautions to intervene with Tech fireblocks
Adoption of institution of digital assets is eating
A cluster of pro-Crypto policies, the successful launch of Bitcoin exchange-traded funds (ETF), and advancing tokenization and stablecoins has gained the attention of institutional investors in the last year.
In the United States, Bitcoin ETFs are On the track for a month breach of the recordDrawing $ 1.5 billion in just two days.
In the face of regulation, the Senate passed the guide and establishment of the National Innovation for US Stablecoins (Genius) Act. If enforced by law, the bill may further accelerate institutional adoptionAccording to DWF Labs Managing Partner Andrei Grachev.
Meanwhile, the Bitcoin rally all the time highs created a positive feedback loop where more institutions view BTC as an old asset eligible to be integrated into modern portfolios, according to A Recent report of Fidelity Digital Assets.
Crypto also shows a positive growth in areas where Sygnum is active, such as Singapore and the United Arab Emirates. However, the CEO of Sygnum, Matthias Imbach, Recently warned That the company’s native Switzerland may lose its competitive advantage as a crypto destination if it does not continue to be innovative.
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