Digital asset bank group Sygnum completes a $58 million strategic rise round funding.

[Sygnum Digital Asset Bank Group Completes $58 Million Strategic Growth Round Financing] The digital asset bank group Sygnum announced the completion of $58 million in strategic growth round financing, with a post-investment valuation exceeding $1 billion. This round of financing was led by venture capital firm Fulgur Ventures, which focuses on Bitcoin technology, with participation from existing and new investors as well as company employees, while the founding team retains control. The funds will be mainly used for EU/EEA market expansion and Hong Kong compliance business layout in 2025. Sygnum plans to strengthen the development of products related to Bitcoin technology and pursue strategic acquisition opportunities. At the same time, the company will increase investment in compliance and risk management to cope with the tightening of industry regulations. According to the performance data, Sygnum's 2024 trading product revenue has surpassed the level of the whole year of 2023 in the third quarter, and the annual transaction volume has increased by more than 1,000% year-on-year. Its B2B platform provides crypto services to more than 20 institutions, including Swiss Post Bank, covering more than one-third of the Swiss population.