Sygnum, a global digital asset banking group, announced it has completed its Strategic Growth Round, raising $58 million. This funding gives the company a post-money valuation exceeding $1 billion. The round was led by Fulgur Ventures, a venture capital firm specializing in Bitcoin technologies, alongside other strategic and financial investors.
Supporting Growth and Expansion
The funds will support Sygnum’s market expansion into the European Union and Hong Kong, the development of new products with a focus on Bitcoin-related technologies, and strategic acquisitions. The company also plans to strengthen its compliance and risk management frameworks in line with the industry’s increasing focus on regulatory standards.
Sygnum reports managing over $5 billion in client assets as of December 31, 2024. The group intends to use its bolstered balance sheet and additional Common Equity Tier 1 (CET1) capital to further its mission of integrating digital and traditional finance.
Milestones in 2024
The company achieved notable growth in 2024, with revenues from trading products surpassing the previous year’s total by the third quarter. Total annual trades grew more than 1,000% year-on-year, driven by partnerships with institutions such as PostFinance and over 20 other banks on Sygnum’s B2B platform.
Sygnum also launched new platforms, including Sygnum Connect, a multi-asset settlement network, and Sygnum Protect, a custody solution for institutional clients trading on major crypto exchanges.
Leadership Perspectives
Mathias Imbach, Sygnum Co-Founder and Group CEO, highlighted the importance of fostering innovation in the financial sector, particularly in Switzerland, where he noted increasing competition from other jurisdictions.
Gerald Goh, Co-Founder and CEO APAC, emphasized the group’s position as a regulated financial institution and its plans to build on its infrastructure and services to support future growth.
Oleg Mikhalsky, Partner at Fulgur Ventures, described Sygnum as an ideal partner for developing Bitcoin-related financial products and highlighted the firm’s focus on advancing institutional adoption of Bitcoin.
About Sygnum
Sygnum combines traditional banking principles with digital asset technologies to offer a range of services, including asset management, tokenization, and B2B solutions. Its operations are guided by institutional-grade security and regulatory compliance.
About Fulgur Ventures
Fulgur Ventures focuses on startups developing Bitcoin and related scaling technologies. Since its founding in 2019, the firm has supported innovations that drive Bitcoin adoption and infrastructure development.
Image by William Christen from Unsplash
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