BancaStato, the cantonal bank of Ticino, has launched regulated cryptocurrency trading for its retail clients. Customers can now buy, hold, and sell Bitcoin, Ethereum, Litecoin, and Solana directly through their e-banking platform, powered by an API integration from Sygnum into the Avaloq core banking system.

About BancaStato

BancaStato, officially known as Banca dello Stato del Cantone Ticino, is a public-law institution headquartered in Bellinzona. Founded in 1915, it is wholly owned by the canton of Ticino and carries a full state guarantee. The bank provides traditional banking services to retail and corporate clients throughout Switzerland's southernmost canton.

Sygnum's Technical Integration

For its crypto infrastructure, BancaStato partnered with Sygnum, a FINMA-licensed crypto bank since 2019. Sygnum's API connects directly into the Avaloq core banking system and its digital banking channels, covering both web and mobile platforms. This architecture eliminates the need for a separate order management system—a requirement that earlier bank crypto integrations typically faced. Customers place orders within their familiar e-banking interface, while Sygnum handles execution in the background under Swiss financial market supervision.

At launch, four cryptocurrencies are available: Bitcoin, Ethereum, Litecoin, and Solana. Market orders can be placed either by quantity or by USD value, and selling follows the same e-banking workflow as buying. Customer assets are held in Sygnum's institutional multi-layer custody solution, off-balance-sheet and in full regulatory compliance. The holdings remain segregated from the bank's other assets and, in principle, are protected in the event of insolvency.

Avaloq, a subsidiary of NEC Corporation, supplies front-to-back software for more than 170 financial institutions worldwide. According to Sygnum, BancaStato is the first bank on Avaloq's SaaS environment to offer crypto purchases via API in e-banking.

Curzio De Gottardi, head of the Products and Services Division at BancaStato and vice president of the executive board, described the combination of traditional investments, investment solutions, and digital assets as a strengthening of the group's overall offering.

Fritz Jost, Chief B2B Officer at Sygnum, said: "BancaStato will be the first bank on Avaloq's SaaS environment to let its clients buy, hold and sell crypto via API with Sygnum directly from e-banking, a significant step for the maturity and scalability of regulated digital asset infrastructure."

Sixth Swiss Cantonal Bank with Regulated Crypto Trading

BancaStato is the sixth known Swiss cantonal bank to offer regulated crypto trading to its broader retail client base. Switzerland's 24 cantonal banks are among the country's most established financial institutions, several of which benefit from state guarantees on depositor assets, making their adoption of digital asset services a notable signal for retail crypto acceptance within the mainstream banking sector.

The trend began in 2023 when the Zug cantonal bank became the first of its kind. In March 2025, the Zug institution expanded its offering with Sygnum to include Cardano and Avalanche, and it now covers Bitcoin, Ethereum, Solana, XRP, Polygon, Litecoin, and Uniswap.

The Lucerne cantonal bank followed in March 2024, launching with Bitcoin, Ethereum, and the stablecoin USDC, also with Sygnum's involvement. The institution later expanded its range to seven cryptocurrencies, including Chainlink, Polygon, and Aave. In autumn 2024, the Zurich cantonal bank entered the space with Bitcoin and Ethereum. By 2026, the St. Gallen and Thurgau cantonal banks had joined, with the latter opening its offering to its entire client base without investment advice.

Among the six cantonal banks, three rely on Sygnum as their infrastructure partner: Zug, Lucerne, and now BancaStato. The remaining institutions have chosen alternative providers. The St. Gallen cantonal bank selected AMINA Bank (formerly SEBA), while the Zurich cantonal bank built its solution on Crypto Finance AG—a solution the Thurgau cantonal bank also adopted. Both AMINA and Sygnum have held a FINMA banking license since 2019.

Sygnum's B2B Network Expands Beyond 25 Institutions

With the addition of BancaStato, Sygnum's B2B platform now counts more than 25 banks and financial institutions. The network includes the Zug cantonal bank, PostFinance, and SocGen FORGE, as well as Bordier & Cie, Incore Bank, Bergos, PKB, Bison Bank, and VZ VermögensZentrum. The partner base spans cantonal banks, the state-owned PostFinance, private banks, and independent asset managers. According to Sygnum, partner banks collectively reach more than a third of the Swiss population.

Where crypto services previously operated as standalone solutions, trading at BancaStato has become an integrated component within the core banking system. For many partner institutions, Sygnum manages both trading and custody in the background.

This expansion is underpinned by a broad licensing framework. Sygnum has held a Swiss banking license from FINMA since 2019, making it one of the first blockchain financial service providers to receive such authorization. At the end of June 2026, Sygnum Europe received a CASP license under the EU's MiCAR regulation, granted by the Liechtenstein financial market authority, opening access to the EU single market under a unified regulatory regime. The bank additionally holds CMS and major payment institution licenses in Singapore, along with authorizations in Abu Dhabi and Luxembourg. This regulatory framework enables partner banks to offer crypto services without obtaining their own crypto license.