Nikolas Sargeant
Sygnum, the Swiss-Singapore cryptocurrency bank, has achieved unicorn status following a $58 million strategic growth funding round that pushed its valuation beyond $1 billion. Bitcoin technology-focused Fulgur Ventures led the oversubscribed round, joined by new and existing investors, while Sygnum's team members maintained majority ownership alongside co-founders and board members.
Rapid Valuation Growth Marks Sygnum's Success Story
The recent funding success follows Sygnum's January 2024 raise of over $40 million, which valued the company at $900 million. This rapid growth builds on its January 2022 Series B round, where the company secured $90 million from prominent Asian investors including Sun Hung Kai & Co., Animoca Brands, and SBI Holdings.
Strategic Expansion and Technology Development
The fresh capital will fuel Sygnum's ambitious growth plans, including enhanced Bitcoin technology offerings and strengthened institutional infrastructure. With licenses across Switzerland, Singapore, Abu Dhabi, Luxembourg, and Liechtenstein, the bank is strategically positioned to capitalize on MiCA-compliant EU markets while establishing a regulated presence in Hong Kong.
Operational Excellence Drives Market Leadership
Sygnum's success is reflected in its 2024 operational profitability, driven by exceptional growth across trading products. The company now manages over $5 billion in assets for 2,000 clients spanning 70 countries, with annual trade volumes surging more than 1,000% year-over-year. Recent innovations include Sygnum Connect, a 24/7 multi-asset settlement network, and strategic partnerships with industry leaders like Fidelity International and Chainlink.
Bullish Outlook on Bitcoin's Future
Looking ahead, Sygnum's research team anticipates significant Bitcoin price appreciation in 2025, driven by increasing institutional investment from pension and sovereign wealth funds. The bank's analysis suggests that limited Bitcoin supply, combined with growing institutional demand, could trigger substantial price movements. This projection is supported by the success of Bitcoin ETFs, which have attracted $18.9 billion in net inflows over six months, significantly outperforming Ethereum ETFs' $2.5 billion during the same period.
