Sygnum, the Swiss-Singapore digital asset banking group, secured $58 million in an oversubscribed strategic funding round, achieving unicorn status and a valuation of $1 billion. The round, led by Bitcoin-focused venture capital firm Fulgur Venture, included new and existing strategic investors and Sygnum team members. This represents a substantial leap from the company’s $900 million valuation earlier this year.
Mathias Imbach, Co-Founder and Group CEO of Sygnum, says, “Sygnum’s reaching unicorn status is a strong validation by the market of our business model, strategy, and team. As Switzerland loses ground to other jurisdictions as a preferred digital asset hub, we must emphasise the need for continuous innovation in the financial sector to attract talent and capital and maintain long-term relevance.”
The fresh capital injection, bringing Sygnum’s total funding to over $180 million, will fuel several strategic initiatives. The projected milestones include expanding into EU/EEA markets, establishing a regulated presence in Hong Kong, enhancing institutional infrastructure, growing its Bitcoin technology-focused product portfolio, and pursuing strategic acquisitions as market opportunities arise.
Behind Sygnum: bridging traditional and digital finances
Sygnum’s journey began in 2017 at the Singapore Fintech Festival, where founders Luka Müller, Manuel Krieger, Mathias Imbach, and Gerald Goh envisioned a trusted digital asset ecosystem built on Distributed Ledger Technology (DLT). Their mission is simple: to bridge the largely unregulated digital asset industry with traditional regulated finance.
The company’s approach has proven successful, with 2024 trading revenues across all products — including crypto spot, derivatives, FX, and traditional securities — surpassing the previous year’s total by Q3. Total trades in 2024 also experienced a shift, increasing by over 1,000% year over year. In fact, PostFinance catalysed this growth, and over 20 banks are utilising Sygnum’s B2B platform to provide regulated crypto services to over one-third of Swiss residents.
A comprehensive and innovative approach to tokenesation
Sygnum’s competitive edge lies in its comprehensive digital asset banking infrastructure. The company’s integrated banking platform seamlessly merges traditional banking services with digital asset capabilities, enabling fluid transactions between fiat currencies and digital assets within a unified ecosystem.
The bank also offers an institutional-grade integrated multi-custody solution, giving clients a choice between instant off-chain settlement for trading or secure on-chain storage in segregated wallets. For instance, Sygnum Connect’s 24/7 multi-asset instant settlement network facilitates fiat, digital assets, and stablecoins transactions while addressing market gaps through capital efficiency and on-demand liquidity.
Recently, Sygnum launched a second platform, Sygnum Protect, for its global institutional clients. This platform enables trading on major crypto exchanges while maintaining collateral in secure, bank-grade, and bankruptcy-remote custody with Sygnum.
Future of finances is behind innovative digital banking
As the digital asset industry increasingly embraces regulatory compliance, Sygnum plans to strengthen its organisational and operational resilience, compliance teams, and risk management capabilities.
Gerald Goh, Co-Founder and CEO of APAC, concludes: “The successful completion of our Strategic Growth Round proves Sygnum’s strong and unique position as a leading regulated financial institution in the global digital asset industry. Offering trusted institutional infrastructure and regulated services for digital assets will continue to be the foundation for Sygnum’s future growth strategy.”
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