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Signum co-founder Imbach is convinced that digital assets are attractive. His company in August 2019 received a Swiss banking license, at the same time as rival Seba Crypto. Imbach said that crypto-assets had developed a certain relative strength opposed to more traditional asset classes. «The proposition that Bitcoin in particular is a digital alternative to gold, still stands.»

Daniel Kuehne, the head of asset management at Seba Bank is looking closely into the development of the prices of normal equities and crypto-assets. He said that the correlation between Bitcoin and the volatility-index VIX showed that the stress on stock markets hadn’t strengthened the correlation between Bitcoin and stocks. Bitcoin hence had become a very interesting way to diversify.

Institutional and professional investors showed a lot of interest, Seba Crypto said. Still, both Seba Crypto and Bitcoin Suisse were less than forthcoming about their own prospects.

Perfect Storm

Imbach said that Sygnum had always been most prudent in the use of its resources. He was aware that it wasn’t the time to spend big, even though the company remained optimistic about its ability to generate new capital.

A global recession would also impact the crypto-industry, according to Imbach. The perfect storm that has taken hold of the banking world would likely also leaves traces in its wake in the Crypto Valley around the city of Zug.