Positioning itself as the world’s first digital bank, Sygnum Bank has raised $58 million in a funding round led by Bitcoin-focused VC firm Fulgur Ventures. With this new investment, the bank has reached a $1 billion valuation, officially attaining unicorn status.
Headquartered in both Zurich and Singapore, Sygnum Bank is at the forefront of integrating digital assets and blockchain technology into the global financial system. The company provides innovative solutions that bridge the gap between traditional finance and the rapidly evolving digital economy.
Secure Investments and Tokenization Solutions
Sygnum offers secure investment opportunities in digital assets such as Bitcoin and Ethereum. It also facilitates the tokenization of physical assets and working capital, enabling businesses to digitize and streamline financial processes. Furthermore, the platform allows clients to leverage their crypto assets as collateral for loans, catering to both individual and institutional investors.
Regulated and Trusted Blockchain Services
Through its services on Proof-of-Stake (PoS) blockchain networks, Sygnum provides clients with the opportunity to earn passive income. The bank has obtained the necessary licenses from Switzerland’s financial regulator FINMA and Singapore, reinforcing its position as a trustworthy and compliant provider in the digital finance space.
Sygnum’s overarching mission is to create a secure and regulated connection between traditional finance and digital asset ecosystems, driving broader adoption of blockchain technologies. The company plans to expand into the European Union and European Economic Area markets within the coming year.
Global Expansion and Future Vision
With a $1 billion valuation, Sygnum is set to strengthen its presence in Europe and expand its infrastructure and product portfolio, including launching operations in Hong Kong.
Discussing the company’s strategic outlook, Sygnum co-founder and CEO Mathias Imbach said, “Sygnum is deeply focused on our core markets in Europe and Asia. At this stage, we do not plan to enter the U.S. market. However, recent positive regulatory developments in the U.S. crypto space are encouraging. We will explore potential opportunities, such as partnerships and mergers and acquisitions, and inform the market once these plans take shape.”
With its latest funding, Sygnum is poised to further its mission of shaping the future of digital assets and cementing its role as a leader in the global financial ecosystem.
Leave a Reply