Swiss Digital Bank Sygnum Hits $1 Billion Valuation After $58M Round

Digital asset bank Sygnum has secured $58 million in a strategic growth round, pushing its valuation past $1 billion.

This funding, led by Bitcoin-focused venture firm Fulgur Ventures, included new and existing investors, with Sygnum’s leadership and employees retaining majority control.

The bank currently oversees over $5 billion in client assets and recorded a remarkable 1,000% surge in trading volumes during 2024, attributed to its partnership with PostFinance, launched in 2023. Despite its success, Sygnum CEO Mathias Imbach warns that Switzerland risks falling behind other jurisdictions if innovation in the financial sector slows.

The fresh capital will fuel Sygnum’s expansion into European and Hong Kong markets while enhancing its institutional services and Bitcoin-centric products. As demand for regulated crypto services grows, the bank plans to leverage its strengths, including Sygnum Connect, a 24/7 settlement network, and Sygnum Protect, a custody solution for institutional trading.

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Sygnum’s ascent to unicorn status underscores its position as a leader in digital banking. Imbach called this milestone a testament to the firm’s resilience and a commitment to innovation.

However, the bank has not been without controversy. Swiss authorities seized $26 million in assets linked to Terraform Labs’ collapse in 2022, reflecting the broader challenges facing the crypto sector. With Do Kwon, the former Terraform CEO, awaiting trial in the U.S., the incident highlights ongoing risks in the industry.

Alexander Stefanov