Sygnum, a digital asset-focused bank with headquarters in Zurich and Singapore, has reached a valuation of $1 billion following a successful $58 million funding round. This achievement underscores the bank’s significant growth and the increasing acceptance of cryptocurrency services in the financial sector.
The funding round was led by Fulgur Ventures, a venture capital firm specializing in Bitcoin technologies, with participation from both new and existing investors, including Sygnum’s own team members. The raised capital is earmarked for expanding Sygnum’s presence in the European Union and the European Economic Area, as well as establishing a regulated presence in Hong Kong. Additionally, the funds will support the enhancement of the bank’s Bitcoin-focused product offerings and potential strategic acquisitions.
Expanding Horizons and Driving Innovation
In 2024, Sygnum reported a substantial increase in trading activities, with total annual trades rising by more than 1,000% year-over-year. This surge was significantly driven by collaborations with institutions like PostFinance and over 20 other banks on its B2B platform, providing regulated crypto services to a substantial portion of the Swiss population. The bank’s total client assets have now surpassed $5 billion.
Co-founder and Group CEO of Sygnum, Mathias Imbach, emphasized the importance of continuous innovation in the financial sector, particularly in Switzerland. He noted that while Switzerland has been a leading hub for digital assets, it must continue to attract talent and capital to maintain its competitive edge. Imbach stated, “Sygnum reaching unicorn status is a strong validation by the market of our business model, strategy, and team.”
Looking ahead, Sygnum plans to broaden its institutional infrastructure and expand its product portfolio with a focus on Bitcoin technology. The bank also aims to explore opportunities for strategic acquisitions as the market evolves, reinforcing its position as a leading regulated financial institution in the global digital asset industry.
