Signum, a global digital asset banking group, has secured US$58 million in an oversubscribed funding round, achieving unicorn status with a valuation of over US$1 billion.
Rounds have been enhanced signum‘s balance sheet and CET1 capital support future growth plans.
The round, led by Bitcoin-focused venture capital firm Fulgur Ventures, includes new and existing investors, as well as Sygnum’s co-founders, board of directors, and team members, who will continue to own a majority stake in the company. did.
The funds will be used to expand Sygnum’s market presence in the EU/EEA and Hong Kong, strengthen its institutional infrastructure, and develop Bitcoin-focused products.
Additional investments will strengthen compliance, risk management, and organizational resilience.
Signum reported strong growth in 2024, with trading revenue exceeding the previous year’s total by the third quarter and annual trading volumes increasing by more than 1,000%.
This was driven by partnerships with: post finance Additionally, more than 20 banks use the B2B platform, serving a large portion of the Swiss population.
The company also launched Sygnum Connect, a 24/7 multi-asset payment network, and Sygnum Protect, a secure custody platform for institutional clients, with partners such as AsiaNext and Hidden Road.
Signum serves more than 2,000 institutional customers in 70 countries and operates through regulated entities in Switzerland, Singapore, Abu Dhabi, Luxembourg and Liechtenstein.
This latest round follows a funding round in January 2024, which saw Sygnum safe Over $40 million.
Mathias Imbach, co-founder and group CEO of Sygnum, said:
“Sygnum’s achievement of unicorn status represents strong market validation of our business model, strategy and team.
This is an accomplishment that we are very proud of, but our values remain the same: honesty, humility, and the importance of always projecting confidence without being pretentious. These have served as our true north since our inception. ”
Gerald Goh, APAC co-founder and CEO, added:
“The successful completion of our strategic growth round is a testament to Sygnum’s strong and unique position as a leading regulated financial institution in the global digital asset industry.
Providing trusted institutional infrastructure and regulated services for digital assets will continue to be the foundation of Signum’s future growth strategy. ”
Featured image credit: Edited from freepic
This article was first published on fintech news switzerland
