Sygnum, one of the world’s first digital asset banks, has raised $90 million in a Series B funding round. The company is now valued at $800 million.
Sygnum, a crypto-bank valued at $800 million
Sygnum, one of the first banks specializing in digital asset management, continues to grow at a rapid pace. It has just announced that it has successfully completed a Series B financing round, raising $90 million. This round of funding brings its valuation to more than $800 million.
News: Sygnum Bank closes USD 90m Series B
Many thanks to our investors Sun Hung Kai & Co, Meta Investments, @SBI_DAH @SCB10X_OFFICIAL, @animocabrands & Wemade that made this milestone possible!
Read the full announcement here https://t.co/EKnMYRvAHc
– Sygnum Bank (@sygnumofficial) January 6, 2022
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Sygnum, one of the world’s first digital asset banks, has raised $90 million in a Series B funding round. The company is now éSygnum is a regulated crypto-bank, holding licenses in Switzerland and Singapore. It enables institutional and private investors, corporations, banks and other financial institutions to invest in the cryptocurrency economy.
During 2021, it has seen considerable growth in its business, similar to that of Bitcoin (BTC) and the rest of the market. Fuelled by strong demand for its digital asset management service, the Swiss crypto-bank saw a tenfold increase in gross revenues compared to the previous year.
“The digital asset economy is rapidly crossing the chasm to mainstream adoption, where investors will demand fully regulated solutions while accelerating their exposure,” explained Mathias Imbach, co-founder and CEO of Sygnum.
The company now has more than 1,000 clients, ranging from private investors to institutional investors in the financial and banking sector. It also has well over $2 billion in assets under management.
Funds to professionalise in DeFi
With this new capital in the treasury, Sygnum plans to continue to expand its service offering focused on decentralised finance (DeFi). This includes DeFi-focused asset management products such as Arc, the institutional platform developed by the Aave lending protocol team.
In addition, the Swiss crypto-bank will offer its clients the opportunity to generate passive returns on their DeFi tokens, mainly through pools and staking protocols. In fact, it was the first of its kind to launch a staking offer on Ethereum 2.0 to its customers.
“Savvy digital asset investors are increasingly looking for new opportunities on the frontiers of Web 3.0, including DeFi, NFTs, gambling and the metaverse,” said Gerald Goh, co-founder and CEO of Sygnum Singapore.
With the expertise of its team of blockchain engineers and researchers, the ambition is therefore to focus on new innovations with high growth potential, including non-fungible tokens (NFTs), Web 3.0 or even the metaverse.
Once again, Swiss banking institutions continue to lead the way in the adoption of cryptocurrencies. Last month, SEBA, another crypto-bank from across the Jura, used Aave’s Arc platform to attract institutional investors.
2021 kicked @Sygnumofficial growth stage: a 10x in revenues and a client base nearing 1’000 with the leading crypto-companies, funds as well as Banks leveraging Sygnum as bridge between the crypto space and banking system
“Crypto Bank Sygnum raises $90 million funding round” https://t.co/LOaeQJtuz6
– Néstor Palao (@nrpalao) January 6, 2022
