Sygnum, a leading cryptocurrency banking group, has solidified its position as a key player in the digital finance industry by securing $58 million in an oversubscribed strategic growth round. The funding elevates Sygnum’s valuation to over $1 billion, earning the company coveted unicorn status.
The proceeds are earmarked for expanding into the European Union, the European Economic Area, and establishing a regulated presence in Hong Kong. Alongside regional growth, Sygnum plans to develop Bitcoin-focused products and pursue strategic acquisitions to enhance its market offerings.
Fulgur Ventures, known for supporting industry giants like Blockstream, played a cornerstone role in the funding round. Other contributors included strategic and financial investors, with Sygnum’s co-founders, board members, and team retaining majority ownership—a move signaling the company’s commitment to long-term vision and stability.
Sygnum Sees Record Growth
Sygnum’s remarkable growth trajectory was a significant factor in the funding round’s success. In 2024 alone, the company witnessed a staggering 1,000% year-over-year increase in total trades. This surge was partly because of its collaboration with PostFinance, a Swiss state-owned bank, which has helped bring regulated crypto services to over a third of the Swiss population.
The bank’s business-to-business platform has also forged partnerships with at least 20 financial institutions. Meanwhile, Sygnum’s multi-asset settlement network, Sygnum Connect, continues to thrive through partnerships with digital asset exchange AsiaNext and prime broker Hidden Road.
Currently managing over $5 billion in client assets, Sygnum’s ecosystem reflects a robust blend of innovation and compliance. The firm’s history of strategic funding rounds, including a $40 million injection from Azimut Holding in early 2024, underscores its ability to attract high-profile investors while delivering impactful results.
A Glimpse Into the Future
Sygnum’s unicorn status marks a pivotal moment for the crypto banking sector, showcasing the rising demand for regulated and innovative financial solutions in the digital asset space. The company’s commitment to Bitcoin-centric products and strategic global expansions signals its ambition to become a dominant force in cryptocurrency banking.
As Sygnum sets its sights on new markets and partnerships, its ability to blend regulatory compliance with cutting-edge technology could redefine how traditional financial institutions engage with the crypto economy.
