Swiss crypto bank secures double digit million sum

Sygnum and SBI Digital Asset Holdings, the digital asset umbrella company of SBI Group have been collaborating since last year on building the SBI-Sygnum Digital Asset Opportunity Fund, targeting early-stage investments in digital asset startups. The two further strengthen their partnership as SBI injects an eight-digit sum in Sygnum. 

With the completion of this fundraising round, Sygnum will have raised around USD 30 million in the past six months. Combined with the recent tokenisation of its own shares. This laid the foundations for a potential future public offering and a cost-efficient approach to bringing its digital asset banking platform to market. Sygnum stands ready to accelerate its business into its next growth phase. 

As of January 2021, Sygnum held over half a billion USD in client or custody assets. The proceeds from the new round will allow for broadening its client base of private qualified and institutional investors, banks and other financial institution, and to accelerate expansion into European and Asian markets. The company plans to launch products and services including institutional-grade custody features such as additional staking services and yield generating products, expanding its open banking API infrastructure, commercialising Sygnum’s newly-launched Desygnate tokenization platform and SygnEx secondary market trading facility, and developing new asset management products, such as the digital asset options, launched in January.