Sygnum, a Swiss regulated cryptocurrency bank, has closed its $ 90 million Series B funding round. The company is valued at approximately $ 800 million.
📢News: Sygnum Bank closes USD 90m Series B 🚀
Many thanks to our investors Sun Hung Kai & Co., Meta Investments, @SBI_DAH @ SCB10X_OFFICIAL, @animocabrands & Wemade that made this milestone possible! 📈
Read the full announcement here 👇https://t.co/EKnMYRvAHc
– Sygnum Bank (@sygnumofficial) January 6, 2022
The investment round was led by Hong Kong financial company Sun Hung Kai & Co. with the participation of Animoca Brands, WeMade, SBI Holdings, Meta Investments and others.
The funds raised will be used to develop profitable farming and staking products, asset management solutions with access to DeFi, and create new commercial relationships with leading blockchain ecosystems.
According to the press release, in 2021, the total gross income of Sygnum increased tenfold, assets under management grew to more than $ 2 billion. The client base of the cryptobank approached 1,000 organizations.
In June 2021, Sygnum expanded its range of services by offering clients storage and trading of DeFi project tokens. Supported by Aave, Aragon, Curve, Maker, Synthetix, Uniswap and 1inch Network.
As a reminder, in July Sygnum was the first bank to offer its clients Ethereum 2.0 staking.