Swiss crypto bank Sygnum has reached a valuation of $800 million by receiving an investment of $90 million.
Sygnum, a regulated crypto bank, has raised $90 million in a Series B funding round. Sun Hung Kai & Co., a Kong-based financial services company. The tour led by Animoca Brands, SBI Holdings, Siam Commercial Bank’s digital investment arm SCB 10X and Canadian investment company Meta Investments also took part in the tour. With this investment, the bank plans to introduce new products and services focused on decentralized finance, such as DeFi pools like Aave Arc and asset management focused on DeFi. Sygnum Bank also launched a structured investment product called DeFi+ Core last month, which provides diversified exposures to the DeFi industry.
Sygnum, which holds a Swiss banking license and a Singapore asset management license, offers a variety of crypto services, including spot and options trading, custody, crypto-backed fiat loans, corporate banking and wealth management products. Gerald Goh, co-founder and CEO of Sygnum Singapore, said in a statement on the subject: