Sygnum Becomes First Bank to Offer Custody of Dfinity's ICP Token

Digital asset bank Sygnum will offer custody and banking services for Internet Computer utility tokens, becoming the first bank to do so.

• Holders of ICP will be able to deposit their tokens with Sygnum, which will be followed by the rollout of 24/7 spot trading, options trading and loans against ICP holdings at a later date.
• Incubated and launched by Dfinity on May 7, Internet Computer is described by Sygnum as the “third major blockchain innovation after Bitcoin and Ethereum,” in an emailed announcement Tuesday.
• Founded in 2016, the ambitious project is aimed at offering smart contract functionality at internet speed, creating a "decentralized global computer."
• ICP has listed on a number of exchanges in recent weeks including Coinbase Pro on May 10, initially spiking to $640 before correcting.
• Since May 11, ICP has trended downwards and is sitting at $196.58 at press time, according to CoinMarketCap.

See also: Dfinity Launches Uber-Ambitious ‘The Internet Computer’ After 5 Years of Development