#SygnumBank #DigitalAssetBank #FundingRound #Cryptocurrency #Blockchain #GlobalExpansion #PostfinancePartnership #BordierCollaboration
Digital asset bank Sygnum has outstripped its funding expectations, closing its latest strategic growth round with over $40 million, which surpasses its original goal of $35 million. With the successful closure of this funding round, Sygnum’s post-money valuation now stands at an impressive $900 million. The funding round, led by global asset management group Azimut Holding, was oversubscribed and provides a clear signal of the strong interest in the regulated digital asset products.
The strategic growth round witnessed enthusiastic participation reflecting a high degree of investor confidence in Sygnum. Giorgio Medda, CEO of Azimut Holding, looking thrilled about leading the funding, stated, “the demand for well-regulated, institutional services in crypto looks set to surge in 2024.” The Swiss bank looks forward to deploying the funds judiciously to expand into new geographic markets and fast-track development of its regulated products, including its B2B platform, which currently supports the crypto operations of more than 15 global banks and financial entities.
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