Digital asset bank Sygnum raises $90m

Sygnum, which describes itself as the world’s first digital asset bank, has raised $90 million in a Series B funding round. The Swiss bank is now valued at $800 million on a post-money basis.

Sygnum, which has a number of digital asset financial products and services, has a Swiss banking licence and a Singapore asset management licence.

The financial institution offers bank-grade digital asset custody and fiat rails, spot and options trading, cryptocurrency-backed fiat loans, digital asset-focused asset management products, asset tokenisation solutions, and B2B banking for regulated financial institutions.

In addition to trading for Bitcoin, (BTC) Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and other leading cryptocurrencies, the bank also offers access to a range of leading DeFi tokens including Uniswap (UNI), Chainlink (LINK), Polygon (MATIC), Aave (AAVE), Maker (MKR), Compound (COMP), Curve (CRV), Synthetix (SNX) and 1Inch (1inch).

Sygnum said that its DeFi offering will be expanded throughout the year.

“The digital asset economy is rapidly crossing the chasm to mainstream adoption, where investors will demand fully-regulated solutions as they accelerate their exposure,” said Mathias Imbach, Sygnum co-founder and group chief executive. “This financing round is a key milestone in our global expansion and in our mission to empower everyone everywhere to own digital assets with complete trust.”

The funding will be spent on developing new “institutional-grade” Web 3.0 offerings, including additional yield-generating products, including white-listed DeFi pools and expanded staking services, asset management solutions providing trusted access to new, high-growth DeFi innovations, and new commercial partnerships with leading blockchain ecosystems like the Dfinity Foundation.

    Share Story:

Recent Stories


New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.