Zurich-based SCRYPT, a provider of financial services for crypto assets, has successfully raised $5 million (approximately €4.6 million) in a strategic funding round. The round was led by Braza Bank, with additional participation from venture capital firms such as Funfair Ventures, Cabrit Capital, and Atlantic Labs.
The newly acquired funds will enable FinTech to scale its operations, enhance its product offerings, and meet the growing demands of its global clientele. The company has seen substantial growth, doubling its client base and increasing trading volume 18-fold annually.
Norman Wooding, Founder & CEO of SCRYPT, commented, “2024 has started strong for SCRYPT with this strategic investment from Braza Bank. We are excited about our future as we expand into LATAM and leverage the region’s booming crypto market.”
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Strengthening Partnerships and Market Presence
The participation of Braza Bank, a leader in FX and cross-border payments, highlights the increasing institutional adoption of crypto assets. Since its inception in 2020, the company has evolved from an underdog to a trusted industry leader. This capital injection will enable the company to seize market opportunities and build on its success.
Comprehensive Crypto Services
Founded by Norman Wooding and Sylvan Martin, the swiss firm specializes in crypto asset services for Web3 companies and institutions. The company offers a full suite of services, including trading, custody, and staking. Recently, SCRYPT obtained Swiss regulatory approval to launch asset management solutions, further solidifying its market position.
With a portfolio manager license from the Swiss Financial Market Supervisory Authority (FINMA), SCRYPT serves over 200 institutional clients. The company has doubled its team and operational capacity, positioning itself for continued growth.
Strategic Collaboration with Braza Bank
Marcelo Sacomori, Founder & CEO of Braza Bank, emphasized the strategic nature of their partnership with SCRYPT, stating, “Choosing SCRYPT to launch our cryptocurrency services was a natural decision due to their expertise and robust, regulated infrastructure. This partnership will enable us to offer cutting-edge services to our millions of customers.”
With this substantial investment, the startup is poised to accelerate its growth and continue providing innovative financial services in the crypto asset space, expanding its influence and market reach.
