Global digital asset banking group Sygnum announces has raised a total of $58 million, giving it a post-money valuation of more than 1 billion.
Swiiss-Singaporean company Sygnum enables professional and institutional investors, banks, corporates and DLT foundations to invest in digital assets via a portfolio of regulated digital asset banking, asset management, tokenisation and B2B services.
In Switzerland, Sygnum holds a banking license and has CMS and Major Payment Institution licence in Singapore. The group is also regulated in the established global financial hubs of Abu Dhabi and Luxembourg and is registered in Liechtenstein.
Fulgur Ventures led the funding as a cornerstone investor in the final close of Sygnum’s Strategic Growth. The firm focuses on Bitcoin technologies, infrastructure and applications that drive Bitcoin adoption. It’s joined by new and existing strategic and financial investors, as well as Sygnum team members, who are again participating on equal terms.
The co-founders, board, and team members continue to hold Sygnum's majority ownership.
Sygnum has enjoyed multi-year core business growth. 2024 revenues for all trading products, including crypto spot, derivatives, FX and traditional securities, surpassed the previous year’s total in Q3 for the second year running. Total annual trades in 2024 increased by more than 1,000 per cent YoY, propelled by PostFinance and the 20+ banks on its B2B platform providing regulated crypto services to more than a third of the Swiss population.
In FY 2024, Sygnum also grew its 2,000-strong institutional client base domiciled in over 70 countries, serviced through its regulated operations in Switzerland, Singapore and Abu Dhabi.
The group is also regulated in the established global financial hubs of Luxembourg and was recently registered in Liechtenstein.
"Switzerland losing out as a digital asset hub"
According to Mathias Imbach, Sygnum co-founder and Group CEO:
“Sygnum reaching unicorn status is a strong validation by the market of our business model, strategy and team.
As Switzerland is currently losing ground to other jurisdictions as a preferred digital asset hub, it is also our obligation to highlight the need for Switzerland to not ignore the importance of continuous innovation in the financial sector and to continue to attract talent and capital to remain relevant in the long-term.
In that way, Sygnum’s mission is only at the very beginning.”
Oleg Mikhalsky, Partner of Fulgur Ventures, adds:
“Sygnum’s market-tested infrastructure, digital asset-native team and global ecosystem makes them the ideal partner to co-develop innovative Bitcoin-related financial products and technologies – as well as for future collaborations with other Fulgur portfolio companies.”
Sygnum will utilise the proceeds from its Strategic Growth Round to expand its European presence, including entry into new EU/EEA markets and establishing a regulated presence in Hong Kong.
Concurrently, Sygnum intends to strengthen its institutional infrastructure by broadening its product offerings, with a particular focus on Bitcoin technology.
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