Tuesday, March 5, 2024

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Swiss crypto neobank Sygnum lands $40m growth investment

  • Swiss crypto neobank Sygnum raises $40 million in a strategic growth round at a $900 million valuation.
  • Led by Azimut Holding, the round sees participation from new and existing investors, including Sygnum team members.
  • Sygnum plans to use the funds to expand into new markets and enhance its product suite.
  • Licensed in Switzerland and Singapore, Sygnum offers digital asset banking, asset management, tokenization, and B2B services.
  • Regulated in the UAE and Luxembourg, Sygnum boasts $4 billion in assets under administration and 1,700+ clients.
  • The neobank’s CEO, Gerald Goh, highlights the capital injection’s role in building regulated solutions for increased asset exposure.
  • Mathias Imbach, Sygnum’s group CEO, credits the neobank’s success to its strategy of building trust through regulation and governance.
  • Despite the current crypto winter, Sygnum aims to thrive in the market’s renaissance, fueled by the recent SEC approval of spot Bitcoin ETFs.

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