Yigit Taha OZTURK 
Crypto banking giant Sygnum has reached unicorn status after securing an oversubscribed $58 million in a strategic growth round. The company announced on January 14 that its valuation has surpassed $1 billion.
Sygnum plans to use this investment to expand into new regions, develop Bitcoin (BTC)-focused products, and pursue strategic acquisitions. The company also aims to expand into the European Union and the European Economic Area, as well as establish a regulated presence in Hong Kong.
Fulgur Ventures stands out as one of the key investors in this growth round, known for backing major platforms such as Blockstream.
In addition to Fulgur Ventures, other strategic and financial investors, as well as Sygnum’s co-founders, board members, and team members, participated in the funding round. The company still retains majority control over its shares.
Massive Surge in Crypto Trading Volume in 2024
Sygnum experienced over a 1,000% increase in trading volume in 2024 compared to the previous year, largely driven by its collaboration with the Swiss state-owned bank PostFinance.
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Sygnum also achieved significant success through its partnerships with AsiaNext digital asset exchange and Hidden Road, using its 24/7 multi-asset settlement network, Sygnum Connect. More than 20 banks the company partners with provide regulated crypto services to a third of Switzerland’s population.
Sygnum’s CEO Mathias Imbach stated that the unicorn status validates the company’s business model but expressed concerns that Switzerland is losing its status as a major digital asset hub: “Switzerland is losing its competitive edge compared to other jurisdictions. We must not ignore the importance of continuous innovation in the financial sector.”
Imbach added, “Sygnum’s mission is only at the very beginning,” highlighting the company’s future innovative steps.
About Sygnum
Founded in 2017, Sygnum holds a banking license in Switzerland and capital market services and major payment institution licenses in Singapore. The company has over $5 billion in client assets and received $40 million in investment from Azimut Holding, an Italian asset management group, last year.
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