Swiss digital asset bank Sygnum and Latvian lending platform Debifi announced the launch of MultiSYG, a bitcoin-backed loan secured by a multisig wallet. Sygnum advertised it on its website, but it was not yet available for use at the time of writing. Similar loans exist; the report says this appears to be the first offered by a regulated bank.
Sygnum said the wallet uses a 3-of-5 signing rule, requiring at least three signatures to move collateral. The borrower holds one key, while Sygnum and undisclosed independent institutions hold others. The maximum loan-to-value ratio is 65%. The companies say each client’s collateral is kept in a separate wallet and, under Swiss banking law, apart from Sygnum’s own assets if the bank fails.
