Sygnum completed a funding round of 58 million USD, valuing over 1 billion USD, enhancing the development of Bitcoin technology and expanding the EU/EEA market.

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According to Crowdfundinsider, the digital asset banking group Sygnum has announced the completion of a strategic growth funding round worth 58 million USD, with a post-investment valuation exceeding 1 billion USD. This funding round was led by Fulgur Ventures, a venture capital firm focused on Bitcoin technology, and involved participation from both new and existing investors along with company employees. The founding team continues to maintain control.

The funds will primarily be used for expanding the EU/EEA market and establishing compliant business arrangements in Hong Kong by 2025. Sygnum plans to enhance the development of products related to Bitcoin technology and seek strategic acquisition opportunities. The company will also increase investment in compliance and risk management to respond to the increasingly stringent industry supervision trends. Performance data shows that Sygnum's trading product revenue in 2024 surpassed the full-year figure for 2023 in the third quarter, and annual trading volume increased by over 1000% compared to the previous year. The company's B2B platform provides crypto services to more than 20 institutions, including Swiss PostBank, covering over a third of the Swiss population.

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