Sygnum tokenises Matter Labs' treasury reserves in USD 6.9bn Fidelity MMF

Zurich (ots/PRNewswire) -

- On behalf of its client Matter Labs, Sygnum is investing USD 50m into
Fidelity's Institutional Liquidity Fund (ILF)
- Sygnum generates on-chain representation by issuing security tokens that act
as secure and transparent "Proof-of-Reserves" for Matter Labs' treasury
reserves
- Represents first step in Matter Labs' long-term strategy to move its treasury
reserves on-chain with trusted institutional custodians
- By tokenising traditional securities, Sygnum is strengthening the
Crypto-TradFi bridge and laying the foundations for a fully-tokenised
ecosystem

Sygnum, a global digital asset banking group, is tokenising USD 50m of Matter
Labs' treasury reserves onto the zkSync blockchain. The Sygnum-issued security
tokens act as on-chain representations of units from Fidelity International's
("Fidelity") USD 6.9bn [i] Institutional Liquidity Fund (ILF) to generate a
secure and transparent "Proof-of-Reserves."

Matter Labs is a software development, engineering, and cryptography company
focused on creating scaling solutions for Ethereum and contributing to the
improvement of zk-rollup technology, such as zkSync. zkSync is a layer 2
blockchain protocol designed to scale the performance of Ethereum, the second
largest cryptocurrency. The investment marks the first step of Matter Labs'
long-term strategy to move its treasury reserves on-chain with institutional
custodians like Sygnum.

This is the first project to leverage the capabilities of Sygnum's multi-chain
tokenisation solution with traditional securities. With the tokenisation of the
investment in Fidelity's money market fund, Sygnum further strengthens
Crypto-TradFi connections and lays the foundations for a fully-tokenised
ecosystem.

Jürg Rimle, Country Head Switzerland at Fidelity International, says " We
welcome the partnership with Sygnum Bank that expands access for professional
and institutional investors - and strengthens the trusted bridge between the
emerging digital asset economy and traditional finance."

Fatmire Bekiri, Sygnum Head of Tokenisation, says "Working with Fidelity and
utilising zkSync, Sygnum leverages both the power of the blockchain and the
experience of a global Tier 1 investment manager. It's a prime illustration of
our mission to connect Crypto and Trad-Fi and build Future Finance on-chain."

Marco Cora, Matter Labs SVP of Business and Operations, says "Moving USD 50m of
our treasury reserves onto the zkSync blockchain showcases its
institutional-grade security as well as our commitment to transparency. We're
eager to collaborate with Sygnum to bring part of the Fidelity money market fund