Crypto Bank Sygnum Raises $40 Million for Growth, Acquisitions

Crypto bank Sygnum AGraised 35 million Swiss francs ($41 million) to fund expansion and acquisition plans as the group looks at stepping up its presence in new geographies.

The investment was led by asset manager Azimut Holding and comes at a valuation of about 725 million Swiss francs, similar to a previous round in January 2022, Gerald Goh, co-founder and chief executive officer of Sygnum Singapore, said in an interview.

“We’re envisaging in this year to enter one more European jurisdiction as well as one more Asian jurisdiction,” said Goh, declining to provide further details before necessary ...