Swiss Digital asset bank Sygnum announced that it has secured an eight-figure US$ investment from SBI Digital Asset Holdings, the digital asset umbrella company of SBI Group, as the lead investor of its strategic investment fundraising round.
With the completion of this fundraising round, Sygnum will have raised approximately US$ 30 million in the past six months.
Proceeds from this fundraising round will be used to continue to grow Sygnum’s assets under administration, which stood at over half a billion US$ as of January 2021.
This includes expanding its client base of private qualified and institutional investors, banks and other financial institutions.
The proceeds will also drive Sygnum’s expansion into new markets in Europe and Asia from its Switzerland and Singapore headquarters, as well as accelerate the launch of new products and services.
Sygnum will also be commercialising its newly-launched Desygnate tokenisation platform and SygnEx secondary market trading facility.
The company will also be expanding its’s open banking API infrastructure to enable banks and other market participants to offer their clients digital assets exposure with complete trust.
Additionally, Sygnum plans on increasing its range of institutional-grade custody features, such as additional staking services and yield generating products.
Sygnum will aslo be developing new asset management products, such as the digital asset options that were launched in January 2021.