Swiss crypto bank Sygnum AG has successfully raised 35 million Swiss francs ($41 million) to support its expansion and acquisition initiatives, aiming to strengthen its presence in new geographical areas.
Sygnum Plans to Expand In Europe and Asia
The funding round, led by asset manager Azimut Holding, values Sygnum at around 725 million Swiss francs ($838 million), consistent with a previous round in January 2022, according to Gerald Goh, co-founder and CEO of Sygnum Singapore. Goh revealed plans to enter one additional European jurisdiction and one more Asian jurisdiction in the coming year, pending necessary approvals.
Sygnum, operating a digital-asset bank in Switzerland and providing asset management and crypto brokerage services in Singapore, is exploring opportunities in the European market for acquisitions aligned with its current business activities, according to Gerald Goh, CEO of Sygnum Singapore.
Goh emphasized that all considered opportunities are within the scope of Sygnum
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