Cryptocurrency bank Sygnum Bank completes $58 million financing, led by Fulgur Ventures

ChainCatcher news, Swiss and Singapore-based crypto bank Sygnum has completed a $58 million financing round, led by Fulgur Ventures, with a post-financing valuation of $1 billion.

The new funds will be used to expand its product offerings (focusing on Bitcoin technology), enhance its institutional infrastructure, strengthen its compliance team, and explore strategic acquisition opportunities. The proceeds will also support Sygnum's expansion plans in the EU and establish a regulated business in Hong Kong.

According to RootData, Sygnum is a digital asset bank with a Swiss banking license and a Singapore asset management license. Sygnum enables institutions and private qualified investors, corporations, banks, and other financial institutions to invest in the emerging digital asset economy in a fully trusted manner. Clients can invest in leading digital assets using Swiss francs, US dollars, euros, and Singapore dollars that they deposit.