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.

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