ZURICH, Switzerland – In a significant display of investor confidence, Sygnum Bank AG, a Swiss-based cryptocurrency bank, has announced a successful $40 million funding round, propelling its valuation close to the $1 billion ‘unicorn’ mark, with the current figure standing at $900 million. The achievement reveals the capability of the firm to adapt to the dire economic conditions and even grow despite the turbulent environment. 

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• Sygnum Bank AG, a Swiss-based leader in cryptocurrency banking, has successfully raised $40 million, boosting its valuation to near ‘unicorn’ status at $900 million.
• Sygnum’s recent funding round, led by Azimut Holdings, is paving the way for the company to step into new markets in Europe and Asia.
• With $4 billion in managed assets and a global client base, Sygnum remains committed to innovation in the digital asset space. This includes a recent investment in P2P.org’s infrastructure development.

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Swiss Cryptocurrency Bank Sygnum Approaches $1 Billion Valuation Following $40 Million Funding Round

Mathias Imbach, co-founder and group chief executive officer of Sygnum thanked the investors for the wonderful response and stressed on the strategic macro-choice regulatory framework along with the emphasis on conforming and governing the governance aspect. 

According to Imbach, we have successfully managed to round off a rather resourceful funding round of such resistance in a dark macro environment that testifies to our investors’ confidence and our company’s steadfast effort to be regulatory perfective. Azimut Holdings, one of the important managers of investment controlling, stepped in front of this round of financing, which signals the main vote of confidence in the formation and progress of Sygnum. 

The bank’s services are meant to spread in Europe and Asia due to the increase in the demand in these regions where this increase in the demand seems to be on a trend. This latest development precedes Sygnum’s $ 90 million funding round that it raised in January 2022, valuing the firm at an estimated value of $800 million. 

However, since then, the Sygnum’s major development has taken place with assets under management growing up to $4 billion. The broad-based client base of the Sygnum includes over 1700 entities from more than 60 countries.

Gerald Goh, co-founder and CEO of Sygnum’s Singapore operations, noted the industry’s rebound from the so-called ‘crypto winter.’ He emphasized the increasing appetite amongst investors for partnerships with dependable, well-governed financial institutions. Leveraging the capital raised, Goh emphasized that the firm would improve its regulated digital asset solutions suite to meet significant investor demand to widen its portfolios for digital assets.

In April of the previous year, Sygnum also participated in a $23 million funding round for P2P.org, supporting the development of new infrastructure aimed at improving staking services following the Ethereum Shanghai upgrade.

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