Crypto Bank Sygnum Gets Fund Injection, Company Valuation Reaches IDR 16.2 Trillion
JAKARTA - Sygnum is the first digital asset bank in the world to operate independently and regulated. Sygnum has a head office in Zurich and Singapore. Founded in 2017, Sygnum offered various digital banking services, including crypto asset trading, loans with crypto asset guarantees, digital asset custodies, and interest income services for institutional clients.
This bank focuses on empowering institutional and private investors who meet the requirements, companies, banks, and other financial institutions to invest in the digital asset economy with full trust.
Sygnum recently managed to raise funds of 58 million US dollars (Rp940 billion) in its funding round. With this achievement, the company's valuation exceeded 1 billion US dollars (Rp 16.2 trillion). That means Sygnum confirmed his position as one of the leading crypto-based financial institutions in the world.
The funding is led by Fulgur Ventures, a venture capital firm focused on Bitcoin, along with a number of strategic investors, including members of the Sygnum team themselves. This success reflects the high market confidence in Sygnum's potential in the digital asset industry.
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Saat ini Sygnum mengelola lebih dari 5 miliar dolar AS (Rp81 triliun) aset klien, dengan volume perdagangan yang meningkat lebih dari 1.000% pada 2024 dibandingkan tahun lalu. Pencapaian ini sebagian besar didorong oleh kerja sama strategis dengan PostFinance yang dimulai pada April 2023.
The funds raised will be used for expansion into the European Union market and the European Economic Region (EU/EEA), as well as strengthening its presence in Hong Kong. In addition, Sygnum plans to improve infrastructure and expand its Bitcoin-based product portfolio such as the ETF.
Not only that, Sygnum also continues to innovate in the blockchain sector. In July 2024, they launched Sygnum Connect, a multi-asset completion network that operates 24/7. This service is supported by partnerships with AsiaNext and Hidden Road, which provide new solutions for institutional clients to trade on major crypto exchanges with high-level security.
Sygnum CEO Mathias Imbach stressed the importance of sustainable innovation in the Swiss financial sector so that the country remains competitive in the era of the digital economy. "Switzerland must not lose its competitiveness in an increasingly digital world," he said, quoted from DailyHodl, Tuesday, December 15.