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Ruholamin Haqshanas
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Ruholamin Haqshanas
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Sygnum, a crypto bank based in Switzerland and Singapore, has secured $58 million in an oversubscribed strategic growth funding round, propelling its valuation past the $1 billion mark and earning it the prestigious Unicorn status.
The cornerstone investor for the round’s final close was Fulgur Ventures, a venture capital firm with a focus on Bitcoin technologies, alongside new and existing strategic and financial backers, according to an official announcement.
Notably, Sygnum’s team members also participated, maintaining majority ownership with the co-founders and board.
Sygnum Raised Over $40M in January 2023
The milestone comes shortly after Sygnum raised over $40 million in January 2024, led by Milan-based asset manager Azimut Holding, at a $900 million valuation.
Earlier, in its Series B funding round in January 2022, Sygnum raised $90 million with backing from notable Asia-based investors like Sun Hung Kai & Co., Animoca Brands, and SBI Holdings.
“Sygnum’s market-tested infrastructure, digital asset-native team and global ecosystem makes them the ideal partner to co-develop innovative Bitcoin-related financial products and technologies – as well as for future collaborations with other Fulgur portfolio companies,” Oleg Mikhalsky, a partner at Fulgur Ventures, said.
Sygnum plans to utilize the new funds to enhance its Bitcoin technology offerings, expand its institutional infrastructure, and strengthen compliance operations.
The bank also aims to broaden its presence in the European Union and establish a regulated footprint in Hong Kong.
With licenses in Switzerland, Singapore, Abu Dhabi, Luxembourg, and Liechtenstein, the firm is strategically positioning itself for growth, particularly in MiCA-compliant EU markets.
“Sygnum reaching Unicorn status is a strong validation by the market of our business model, strategy and team,” co-founder and CEO Mathias Imbach said.
Sygnum reported operational profitability in 2024, driven by significant growth in its trading products, including crypto spot, derivatives, FX, and traditional securities.
The company’s annual trade volume surged over 1,000% year-over-year, and it now manages more than $5 billion in assets for 2,000 clients across 70 countries.
In recent years, Sygnum has launched several innovative services, including Sygnum Connect, a 24/7 multi-asset settlement network, and Sygnum Protect, which enables institutional clients to trade on major crypto exchanges securely.
Partnerships with Fidelity International, Matter Labs, and Hamilton Lane have further advanced its tokenization initiatives, while collaborations with Chainlink have brought fund NAV data on-chain.
Sygnum Predicts Bitcoin to Soar in 2025
Bitcoin could experience significant price increases in 2025, driven by a surge in institutional investment, according to a report from Sygnum Bank.
The bank said that traditional institutional investors, such as pension and sovereign wealth funds, are beginning to allocate capital to crypto assets, which could trigger substantial demand.
The institutional demand is met with a minimal supply of Bitcoin, especially considering a significant portion is held by long-term investors and rarely traded.
This scarcity amplifies the impact of any investment, potentially leading to substantial price appreciation as demand increases.
Sygnum’s Head of Research, Katalin Tischhauser, previously projected that spot Ethereum ETFs would attract $5 to $10 billion in their first year.
While Ethereum ETFs have garnered $2.5 billion in net inflows over six months, Bitcoin ETFs have significantly outperformed, drawing $18.9 billion during the same period.
