Sygnum, a Swiss banking group, solidified its position in the digital finance industry by securing $58 million in a strategic growth round.
New Funding and Unicorn Status
Sygnum secured $58 million in a strategic growth round, elevating its valuation to over $1 billion, achieving unicorn status. The funds are allocated for expanding into the European Union, the European Economic Area, and for establishing a regulated presence in Hong Kong. The company plans to develop Bitcoin-focused products and pursue strategic acquisitions.
Record Growth of the Company
In 2024, Sygnum experienced a significant growth with a 1,000% increase in total trades year-over-year. This surge was partly due to its collaboration with the Swiss state-owned bank PostFinance, enabling over a third of the Swiss population to access regulated crypto services.
A Glimpse Into the Future
Sygnum's unicorn status marks an important milestone in the crypto banking sector, showcasing the rising demand for regulated and innovative financial solutions. The company's aim to become a dominant force in cryptocurrency banking.
Sygnum continues to garner attention and investment, combining innovative solutions with regulatory compliance, potentially reshaping the way traditional financial institutions engage with the crypto economy.
