Zurich-based digital asset banking group, Sygnum, has raised $58 million in an oversubscribed strategic growth funding round, marking its valuation at over $1 billion and achieving unicorn status. This development highlights the increasing institutional interest in regulated digital asset services, as Sygnum continues to operate across global financial hubs such as Switzerland and Singapore. The funding will bolster the company’s expansion plans, particularly in the EU/EEA region and Hong Kong, while strengthening its institutional offerings and compliance capabilities.
What drives Sygnum’s growth?
Sygnum has seen significant growth in recent years, offering regulated banking, asset management, tokenization, and B2B services. The firm, which holds banking licenses in Switzerland and Singapore, reported a sharp rise in trading activity in 2024, with annual trades increasing over 1,000% year-on-year. Its collaborations with financial institutions, such as PostFinance and over 20 banks in Switzerland, have further strengthened its B2B platform, serving a significant portion of Switzerland’s population. Products like Sygnum Connect and Sygnum Protect underline its focus on secure and efficient digital asset solutions for institutional clients.
How will the funding be utilized?
The fresh capital injection will enhance Sygnum’s Common Equity Tier 1 (CET1) capital and support its strategic goals, including entry into the EU/EEA market by 2025 and establishing a regulated presence in Hong Kong. The funds will also aid in expanding its Bitcoin-focused product portfolio, improving institutional infrastructure, and possibly pursuing strategic acquisitions. Additionally, the investment will strengthen compliance measures and risk management processes, addressing the industry’s growing emphasis on regulatory adherence.
Fulgur Ventures, a Bitcoin-focused venture capital firm, led the funding round. Speaking on the investment, Oleg Mikhalsky, Partner at Fulgur Ventures, stated,
“Sygnum’s market-tested infrastructure, digital asset-native team, and global ecosystem make them the ideal partner to co-develop innovative Bitcoin-related financial products and technologies.”
Sygnum’s co-founder and Group CEO, Mathias Imbach, expressed confidence in the company’s mission while addressing Switzerland’s need to maintain innovation in the financial sector.
“Sygnum reaching Unicorn status is a strong validation by the market of our business model, strategy, and team. It won’t alter the values of integrity and humility, which have acted as our true-north since day one,”
he remarked.
In earlier developments, the firm’s operational profitability achieved in 2024 and its growing global client base of 2,000 across 70+ countries exemplify its steady growth trajectory. Compared to its previous achievements, the recent funding marks a pivotal step, enabling Sygnum to align with industry trends and regulatory frameworks while addressing the evolving needs of institutional investors.
The digital asset sector’s regulatory landscape is becoming increasingly stringent, compelling companies like Sygnum to enhance their compliance frameworks. By focusing on market expansion and infrastructure development, Sygnum aims to maintain its competitive edge and cater to the rising demand for secure digital asset services. For stakeholders, the firm’s progress underscores the intersection of innovation and compliance in advancing the sector.
