Sygnum, Deribit Team Up for Secure Crypto Trading

Cryptocurrency banking firm Sygnum has expanded its off-exchange custody platform, Sygnum Protect, to include Deribit, one of the world's largest derivatives exchanges in crypto. This integration enables institutional Deribit traders to hold their assets in Sygnum's institutional-grade custody while accessing Deribit's broad trading offering and liquidity.

The integration involves collaboration with crypto infrastructure firm Fireblocks, which provided its off-exchange solution enabling trades to mirror assets held in Sygnum's custody to Deribit. This integration mitigates counterparty risks while trading on exchanges and provides additional protection against increasingly sophisticated cybersecurity attacks.

Deribit CEO Luuk Strijers commented, "This integration provides institutional traders with both the capabilities and security assurances they require to trade any of Deribit’s leading products comfortably." Fireblocks CEO Michael Shaulov added, "This integration with Sygnum Protect and Deribit demonstrates the power of Fireblocks Off Exchange. Exchanges and custodians can now leverage our standardized integration without requiring custom development — accelerating institutional adoption so assets can be securely held via regulated bank custody."