Sygnum Bank AG Becomes a Crypto Unicorn Worth $1B
Sygnum Bank AG now boasts a $1B valuation after raising $58M. The funds will fuel Bitcoin product innovation, institutional infrastructure, and entry into EU and Hong Kong markets.
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Sygnum Bank AG raised $58 million in equity financing, marking a milestone as its valuation soared above $1 billion. With this, Sygnum has entered the exclusive club of unicorns.
The funding round, announced on January 14, 2025, attracted a mix of returning and new investors. Cornerstone Fulgur Ventures LLC, a crypto-focused venture capital firm, played a significant role in the investment.
Fulgur is a venture capital firm that continues to drive investment into the accelerating convergence of Bitcoin and institutional financial markets,
Oleg Mikhalsky, Partner of Fulgur Ventures, remarks.
This latest funding follows a $41 million raise in January 2024, when Sygnum was valued at $850 million, supported by a strategic investment from Azimut Holding, headquartered in Milan.
Earlier, in January 2022, the bank secured $90 million in Series B financing, with contributions from Asian investors such as Sun Hung Kai & Co., Animoca Brands, and SBI Holdings.
Sygnum plans to channel the new capital into expanding its Bitcoin technology offerings, developing institutional-grade infrastructure, bolstering compliance teams, and exploring strategic acquisitions. The funds will also fuel the company’s growth in EU markets and support the launch of a regulated presence in Hong Kong.
Sygnum Thrives Amid Pro-Crypto Climate
The digital assets market has surged since early 2024, driven by the debut of Bitcoin ETFs in the United States and President-elect Donald Trump’s pro-crypto stance. This momentum has boosted both market valuations and the performance of leading crypto players.
Check out: “Trump’s Victory: The Impact on Crypto Explained”
By the third quarter, Sygnum’s crypto, forex, and securities trading revenues had outpaced last year’s results. Trading volume grew by an impressive 1000%, a feat made possible by collaborations with Swiss banking institutions like PostFinance.
2024 was a landmark year for merging traditional finance with decentralized systems, highlighted by the greenlighting of Bitcoin for ETFs,
noted Mathias Imbach, Sygnum’s CEO and co-founder.
With assets exceeding $5 billion, Sygnum intends to use the newly secured funds to extend its footprint across Europe and Hong Kong in 2025. The bank also aims to strengthen its portfolio of crypto-driven products and acquire additional Bitcoin holdings.
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