How Swiss Crypto Bank Sygnum Secured $58M and Reached $1B Valuation
Swiss crypto bank Sygnum has made headlines yet again by raising $58 million in a strategic growth round, propelling its valuation to over $1 billion and officially earning its unicorn status. This significant milestone demonstrates the bank’s innovative approach and strategic planning in the crypto banking industry, making it one of the most trusted digital asset banks globally.
The funding round was announced on January 14 and was oversubscribed, with Bitcoin-focused venture capital firm Fulgur Ventures leading as the cornerstone investor. Alongside Fulgur Ventures, a mix of new and existing investors participated, along with contributions from Sygnum team members. Mathias Imbach, the CEO of Sygnum, remarked that achieving unicorn status is a “strong validation by the market of our business model, strategy, and team.”
Founded in 2018, Sygnum has quickly risen to prominence, becoming a benchmark in the digital asset banking sector. In 2024, the bank reported remarkable growth, with revenue from crypto trading products like spot and derivatives surpassing the previous year’s total by Q3. Additionally, the number of annual trades grew by over 1,000%.
Sygnum plans to use the newly raised funds to enhance its market presence in the EU/EEA region and Hong Kong. Furthermore, the bank intends to bolster its Bitcoin services and expand its product portfolio to cater to the growing demand for digital asset banking solutions.
The strategic growth round comes at a time when institutions are beginning to explore opportunities within the crypto ecosystem. A December 2024 research report by Sygnum highlighted that many major institutions have yet to make significant moves in the crypto space, leaving room for immense growth potential. The report also suggested that Bitcoin could outperform altcoins in the coming years, driven by the increasing adoption of spot Bitcoin exchange-traded funds.
Sygnum’s journey to becoming a unicorn is not only a testament to the viability of its business model but also a reflection of the evolving crypto banking landscape. With a focus on security, regulatory compliance, and innovation, Swiss crypto bank Sygnum is paving the way for a future where digital assets are seamlessly integrated into the global financial system.
As Sygnum continues to expand and refine its offerings, the bank stands as a prime example of how the crypto banking sector is maturing, fostering trust and reliability among investors and customers alike.
