In an over-subscribed funding round, Sygnum successfully secured $58 million. This significant investment will be utilized for expanding market reach, enhancing product offerings, and ensuring regulatory compliance within the digital asset sector.
Sygnum Banking Group, a global leader in digital assets, has successfully secured $58 million during its oversubscribed Strategic Growth Round. This round significantly increases the company’s valuation beyond $1 billion. The Sygnum team was joined by strategic and financial investors for this final close of their self-funded venture. Notable participants include Fulgur Ventures, a venture capital firm specializing in Bitcoin. These funds will be used to accelerate market expansion, product development, and strategic acquisitions.
The earnings will be allocated towards Sygnum’s entry into the EU/EEA regulated market by 2025 and the establishment of a regulated presence in Hong Kong. Additionally, these funds will enhance Sygnum’s infrastructure and expand its Bitcoin-related offerings. The company intends to invest in operational resilience, compliance departments, and risk management tools. This investment aims to facilitate navigating the increasing regulatory landscape within the digital asset sector.
Sygnum Surpasses 2023 Revenue with 1,000% Yearly Growth in 2024
Following strong expansion in its core business, it’s not unexpected that Sygnum excelled in its Strategic Growth Round. By Q3 of 2024, the company had already exceeded its projected 2023 revenues for all trading products, such as crypto spot, derivatives, FX, and traditional securities. In 2024 alone, trades increased by more than 1,000% compared to the previous year. This remarkable growth can be attributed mainly to Sygnum’s collaboration with PostFinance and over 20 banking partners. Consequently, approximately one-third of Switzerland’s population gained access to authorized crypto services.
The robust expansion was additionally fueled by an uptick in product releases from the corporation. Introduced in July 2024, Sygnum Connect is a continuous multi-asset settlement system designed in collaboration with Sygnum affiliates, such as digital asset exchange AsiaNext and prime broker Hidden Road.
Mathias Imbach, co-founder and CEO of Sygnum, expressed great pride at their achievement of unicorn status. Despite this success, he emphasized that the company remains committed to its fundamental values of integrity and humility. He described this milestone as significant, stating that Switzerland should continue to innovate in the digital asset field to remain competitive, attracting both talent and capital.
Sygnum boasts a robust infrastructure that underpins its strategic expansion. Its focus lies in providing regulated services for digital assets. The company has established offices in Switzerland, Singapore, and Abu Dhabi, with intentions to expand further into Luxembourg and Liechtenstein. Additionally, Sygnum continues to broaden its clientele base of over 2,000 institutional clients from more than 70 countries.
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2025-01-16 17:39