Zurich-based Sygnum, a digital asset banking group, has raised €56.54 million ($58 million USD) in an oversubscribed strategic growth round.
The funding boosts Sygnum’s valuation to over €974.91 million ($1 billion USD), officially granting it unicorn status.
Funding Details and Lead Investors
The round was led by Fulgur Ventures, a venture capital firm specializing in Bitcoin and institutional financial markets, alongside contributions from existing and new investors, including Sygnum’s co-founders and employees.
Oleg Mikhalsky, Partner at Fulgur Ventures, noted:
“Sygnum’s robust infrastructure, digital asset expertise, and global reach make it an ideal partner for developing innovative Bitcoin-related financial products and collaborations.”
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Business Growth and Achievements
The Crypto Bank operates in Switzerland and Singapore, providing regulated digital asset banking, tokenization, asset management, and B2B services. Key milestones include:
- 1000% year-over-year growth in annual trades in 2024.
- Serving over 2,000 institutional clients across 70+ countries.
- Launching Sygnum Connect, a 24/7 multi-asset settlement network, and Sygnum Protect, a custody platform for institutional collateral.
- Partnering with over 20 banks, including PostFinance, to support one-third of Switzerland’s population.
In 2024, the company also achieved operational profitability, cementing its position as a leader in digital asset banking.
Strategic Use of Funds
The €56.54 million investment will be used to:
- Expand into the EU/EEA market by 2025.
- Establish a regulated presence in Hong Kong.
- Develop Bitcoin-focused products and enhance institutional infrastructure.
- Strengthen compliance, risk management, and organizational resilience.
A Vision for the Future
Co-Founder & Group CEO Mathias Imbach stated:
“Becoming a unicorn validates our business model, but it’s just the beginning of our mission to drive innovation in the financial sector. We aim to keep Switzerland competitive as a global digital asset hub by fostering talent and continuous progress.”
Industry Impact
The Bank’s ascent highlights the growing convergence of digital assets and traditional finance, reinforcing its role in advancing institutional adoption and regulatory clarity in the cryptocurrency ecosystem.
