Crypto Banking Group Sygnum Raises $58 Million Reaching Unicorn Status

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The well-known cryptocurrency banking collective, Sygnum, has achieved unicorn status after reaching a billion-dollar valuation following its successful $58 million fundraising. This significant funding, gathered through an oversubscribed strategic growth round, paves the way for Sygnum’s expansion into various markets.

1. Option A: Sygnum aims to broaden its horizons by entering new territories, improving its Bitcoin (BTC)-focused services, and investigating potential acquisitions with the fresh capital it has obtained. In the concluding phase of Sygnum’s strategic expansion round, Fulgur Ventures stepped forward as a significant backer. They are recognized for backing multiple leading industry platforms like Blockstream and the Bitcoin Layer-2 solution, Liquid Network.

2. Option B: Sygnum intends to grow by moving into new areas, upgrading its Bitcoin (BTC)-focused products, and considering strategic purchases using funds recently acquired. In the last stage of Sygnum’s growth strategy campaign, Fulgur Ventures became a notable investor. They are renowned for supporting various top-tier platforms in the industry such as Blockstream and the Bitcoin Layer-2 solution, Liquid Network.

3. Option C: With fresh funding at hand, Sygnum is looking to extend its reach, bolster its Bitcoin (BTC)-centric solutions, and pursue strategic mergers and acquisitions. In the final phase of their strategic financing round, Fulgur Ventures emerged as a major investor. They are widely recognized for supporting pioneering platforms like Blockstream and the Bitcoin Layer-2 solution, Liquid Network.

4. Option D: Sygnum seeks to expand its presence in new regions, strengthen its offerings related to Bitcoin (BTC), and consider strategic purchases using newly obtained funding. In the final phase of Sygnum’s strategic growth round, Fulgur Ventures emerged as a key investor. They are known for backing leading platforms within the industry such as Blockstream and the Bitcoin Layer-2 solution, Liquid Network.

5. Option E: With new funding secured, Sygnum plans to extend its influence into new territories, enhance its Bitcoin (BTC)-oriented offerings, and explore strategic acquisitions. In the final stage of their growth strategy campaign, Fulgur Ventures became a significant investor. They are recognized for supporting industry-leading platforms such as Blockstream and the Bitcoin Layer-2 solution, Liquid Network.

6. Option F: Sygnum aims to grow by entering new markets, improving its Bitcoin (BTC)-focused solutions, and considering strategic acquisitions with fresh capital in hand. In the final phase of their strategic expansion round, Fulgur Ventures emerged as a key investor. They are well-known for backing top-tier platforms like Blockstream and the Bitcoin Layer-2 solution, Liquid Network.

Choose one that you feel is natural and easy to read, considering the context and audience. I’d recommend Option A or Option F as they both flow smoothly and are easily comprehensible for a general audience.

Beyond Fulgur Ventures, additional Sygnum staff members, as well as strategic and financial investors, took part in the funding round. Yet, it’s important to note that Sygnum’s co-founders, board members, and other team members still hold a significant stake in the company, according to the official statement. The funds gathered will be utilized for Sygnum’s growth within the European Union and the European Economic Area, as well as establishing a regulated presence in Hong Kong.

Sygnum Saw Huge Surge in Crypto Trades in 2024

According to crypto banking group Sygnum, the overwhelming demand for their strategic growth round can be attributed to the remarkable expansion of their business over multiple years. In 2024 alone, the company experienced a staggering 1,000% increase in total trades compared to the previous year, largely fueled by their collaboration with the Swiss state-owned bank PostFinance.

Beyond this collaboration, Sygnum has partnered with over twenty banks on their business platform, providing regulated cryptocurrency services to approximately one-third of Switzerland’s population. Furthermore, the company has emphasized its successful partnerships with digital asset exchange AsiaNext and prime broker Hidden Road, which have strengthened its 24/7 multi-asset settlement network, Sygnum Connect.

Despite Sygnum’s ‘unicorn’ status demonstrating the effectiveness of its business model, Sygnum’s CEO, Mathias Imbach, is starting to doubt Switzerland’s capacity to stay ahead in the race as a leading crypto asset center. In an open discussion about this topic, Imbach voiced his concerns.

With other regions rapidly becoming popular destinations for digital assets, it’s crucial to emphasize the necessity of ongoing innovation within Switzerland’s financial industry. Sygnum’s purpose is still in its early stages.

Established in 2017, Sygnum is a bank that operates under the jurisdiction of Switzerland and has licenses for capital market services and major payment institutions in Singapore. This financial group oversees more than $5 billion worth of assets belonging to its clients.

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2025-01-14 18:06