Sygnum Bank Reaches Unicorn Status with $58M Funding

Swiss digital asset bank Sygnum has achieved unicorn status with a new valuation of over $1 billion following a $58 million funding round led by Bitcoin-focused venture capital firm Fulgur Ventures, with participation from existing and new investors, including Sygnum employees. This funding is earmarked for Sygnum's expansion into the EU/EEA and Hong Kong markets, as well as product development and potential acquisitions. The bank has seen significant growth, with trading revenues in 2024 surpassing the previous year's total by the third quarter. Despite these achievements, co-founder Mathias Imbach highlighted the need for Switzerland to continue innovating in the financial sector. Sygnum's strategy focuses on integrating digital assets into traditional banking, catering primarily to institutional clients.