First Swiss asset token issued: Sygnum tokenizes wine portfolio

With the first asset token from the Swiss crypto bank Sygnum, investors can invest digitally in a portfolio for fine wines.

The Swiss Sygnum Bank has launched the first Swiss asset token with the “Fine Wine” token, according to a message from the company on February 1st.

Premium wines as an attachment on the blockchain

Just in time for the Swiss law on Distributed Ledger Technology (DLT) coming into force, Sygnum is launching a token for digital investments in a portfolio of premium wines. To implement the project, they have teamed up with Fine Wines Capital AG, a specialist in the trade of high-quality wines.

The issuance of a wine token opens a very illiquid and difficult to access investment class to a wide range of investors.

The tokenization was carried out with Sygnum’s own end-to-end tokenization solution Desygnate, which is connected to Sygnum’s own trading center SygnEx. The tokens can therefore also be traded independently of a listing on crypto exchanges . Sygnum’s Desygnate tokenization platform was only launched in December . The issue of the Fine Wine token is therefore also a first for Bitcoin Legacy.

New Swiss DLT law

Which entered into force on February 1, new rules for DLT innovations were in Switzerland in September 2020 was decided . Among other things, they define the legal framework for trading in digital securities and the effects of bankruptcies on reclaiming crypto tokens.