Swiss crypto-focused bank Sygnum has raised $58 million in a strategic growth round, achieving unicorn status with a valuation exceeding $1 billion.
Success Backed by Investors
In an announcement on January 14, the bank revealed that the funding round was oversubscribed, with the lead investor being Fulgur Ventures, a venture capital firm focused on Bitcoin. Other participants included new and existing investors, along with members of the Sygnum team.
Mathias Imbach, Sygnum’s CEO, stated that achieving unicorn status is a strong validation of their business model and strategy.
“This success fills us with pride, but our core values of integrity, humility, and balanced confidence remain unchanged,” added Imbach.
Plans for Expansion and Service Development
Sygnum plans to use the funds for:
Expanding its presence in the EU/EAA regions and Hong KongEnhancing Bitcoin servicesBroadening its product offerings
Founded in 2018, the bank reported significant growth in 2024. Trading volumes for products such as crypto spot and derivatives exceeded the total volume of 2023 in the third quarter alone, with annual trading activity increasing by over 1,000%.
Sygnum’s Outlook on the Crypto Market
In December 2024, Sygnum published a report emphasizing that many major institutions have yet to enter the crypto ecosystem. According to the bank, this creates significant opportunities for further value appreciation in digital assets.
Sygnum also noted that during the next bull run, altcoins may not perform as strongly as Bitcoin, primarily due to the increasing popularity of spot Bitcoin ETFs.
Sygnum Strengthens Its Position in the Crypto Industry
With this milestone, Sygnum solidifies its position as one of the leading players in the digital asset market. Its combination of growing trading volumes and strategic expansion sets it up as a key leader in crypto banking.
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