Digital Asset Bank Sygnum Reaches Unicorn Status After $58M Funding Round

Licensed in Luxembourg, Switzerland, and Singapore, Sygnum is now setting its sights on expanding its footprint in the European market and establishing a regulated presence in Hong Kong.

Digital asset bank Sygnum has attained unicorn status after concluding a $58 million funding round, valuing the company at over $1 billion. The Zurich- and Singapore-based bank announced the successful completion of an oversubscribed “strategic growth round,” which was led by BTC-focused venture capital firm Fulgar Ventures.

This achievement comes about a year after Sygnum reached a $900 million valuation through a $40 million funding round. Holding licenses in Luxembourg, Switzerland, and Singapore, Sygnum is now aiming to broaden its presence in the European market and establish a regulated footprint in Hong Kong.

Moreover, the bank intends to bolster its product offerings, especially those围绕 Bitcoin technology, while laying the groundwork for future acquisitions to solidify its standing as a pioneer in the digital asset banking landscape.

Sygnum’s remarkable growth showcases the increasing integration of blockchain and cryptocurrency technology into traditional financial systems, indicating strong investor信心 in the sector’s long-term potential.