{"id":10109,"date":"2024-01-25T09:57:45","date_gmt":"2024-01-25T07:57:45","guid":{"rendered":"https:\/\/forklog.com\/en\/sygnum-crypto-bank-secures-40-million-valued-at-900-million\/"},"modified":"2024-01-25T09:57:45","modified_gmt":"2024-01-25T07:57:45","slug":"sygnum-crypto-bank-secures-40-million-valued-at-900-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sygnum-crypto-bank-secures-40-million-valued-at-900-million\/","title":{"rendered":"Sygnum Crypto Bank Secures $40 Million, Valued at $900 Million"},"content":{"rendered":"<p>Swiss-regulated cryptocurrency bank Sygnum has raised over $40 million in an interim strategic funding round led by Milan-based asset manager Azimut Holding.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">? News: Sygnum raises more than USD 40 million in interim close of oversubscribed financing round. <br \/>Read the full announcement here: <a href=\"https:\/\/t.co\/v2XD4duICY\">https:\/\/t.co\/v2XD4duICY<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/fundrasing?src=hash&#038;ref_src=twsrc%5Etfw\">#fundrasing<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/sygnum?src=hash&#038;ref_src=twsrc%5Etfw\">#sygnum<\/a><\/p>\n<p>\u2014 Sygnum Bank (@sygnumofficial) <a href=\"https:\/\/twitter.com\/sygnumofficial\/status\/1750334103268819401?ref_src=twsrc%5Etfw\">January 25, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The funds raised exceeded the target of $35 million, <a href=\"https:\/\/www.theblock.co\/post\/274222\/crypto-bank-sygnum-raises-40-million-at-900-million-valuation\">the company noted<\/a> in a conversation with The Block. Investors valued the project at $900 million.<\/p>\n<p>Gerald Goh, CEO and co-founder of Sygnum&#8217;s Singapore branch, expressed confidence that the industry is &#8220;waking up&#8221; after the crypto winter, with market participants increasingly seeking partnerships with reliable and well-managed financial institutions.<\/p>\n<p>The company plans to use the funds to explore new markets and further develop regulated products, including those aimed at interbank interactions with digital assets.<\/p>\n<p>In addition to Switzerland and Singapore, Sygnum holds licenses to operate in Abu Dhabi and Luxembourg. The company manages assets worth over $4 billion, serving more than 1,700 clients from 60 countries.<\/p>\n<p>In early 2022, the crypto bank closed a Series B round raising $90 million, valuing the company at approximately $800 million. <\/p>\n<p>Earlier in April 2023, Sygnum partnered with PostFinance to offer the Swiss lender&#8217;s clients services for trading and storing digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swiss-regulated cryptocurrency bank Sygnum has raised over $40 million in an interim strategic funding round led by Milan-based asset manager Azimut Holding.<\/p>\n","protected":false},"author":1,"featured_media":10108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1316,1133],"class_list":["post-10109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-sygnum","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10109"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10109\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10108"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}