Singapore- and Switzerland-based digital asset bank Sygnum has hit the final close of its latest funding round, bringing the total capital raised to $58 million.
The final close, which comes a year after hitting its first close in January 2024, has helped the firm hit a post-money valuation of over $1 billion.
The oversubscribed strategic round roped in Bitcoin-focused venture capital firm Fulgur Ventures as a cornerstone investor, alongside new and existing investors, Sygnum said in a release on Tuesday, without disclosing investor details.
US-based Fulgur Ventures invests in firms developing technologies, infrastructure, and applications that drive Bitcoin adoption. Sygnum’s team members also participated in the funding round, but the firm’s co-founders, board, and team members will continue to hold majority ownership post-financing.
The proceeds will help drive market expansion across the European Union and European Economic Area, as well as launching a regulated presence in Hong Kong.
“Sygnum also intends to use the funds to broaden its institutional infrastructure, expand its product portfolio with a focus on Bitcoin-technology, and enable opportunities for strategic acquisitions as the market develops,” the firm said in the release.
The fresh funding comes at a time when Sygnum hit operational profitability in the financial year of 2024. Founded in 2017, Sygnum offers regulated digital asset banking, asset management, tokenisation, and business-to-business (B2B) services to professional and institutional investors.
The digital asset bank holds a banking licence in Switzerland, as well as a capital market services (CMS) and Major Payment Institution (MPI) licence in Singapore. It is also regulated in Abu Dhabi and Luxembourg.
The investment can be counted among the significant crypto venture capital deals that have kickstarted 2025, a year when total crypto VC capital is estimated to hit $150 billion, up 50% YoY, thanks to declining interest rates and increased crypto regulatory clarity, according to the Crypto Predictions for 2025 report published by the research arm of crypto investment firm Galaxy Digital in late December.
