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Sygnum Valued at $800M in $90M Funding Round: Report

The crypto company said it will use the funds for new offerings including yield-generating products and asset-management products for institutional clients.

By Greg Ahlstrand
AccessTimeIconJan 6, 2022 at 5:10 a.m. UTC
Updated May 11, 2023 at 5:52 p.m. UTC
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(Getty Images)
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Sygnum, which runs a digital-asset bank and trading platform, was valued at $800 million in a $90 million funding round, Bloomberg News reported on Thursday, citing a statement from the company.

  • Hong Kong firm Sun Hung Kai & Co. led the round. Animoca Brands and Canada’s Meta Investments also participated, Bloomberg reported, citing the statement.
  • Sygnum is based in Switzerland and Singapore. Its products include the regulated trading of cryptocurrencies.
  • The crypto company said it will use the funds for new offerings, including yield-generating products and asset-management products for institutional clients.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Greg Ahlstrand
    Greg Ahlstrand

    Greg Ahlstrand was previously CoinDesk's Asia News Editor. Greg has no significant crypto holdings.

    Follow @GregAhl on Twitter

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