PANews reported on June 6 that according to Crowdfundinsider, digital asset banking group Sygnum announced the completion of a strategic growth round of financing of US$58 million, with a post-investment valuation of over US$1 billion. This round of financing was led by Fulgur Ventures, a venture capital firm focusing on Bitcoin technology, and participated by new and old investors and company employees. The founding team still maintains a controlling position.

The funds will be mainly used for EU/EEA market expansion and Hong Kong compliance business layout in 2025. Sygnum plans to strengthen the development of Bitcoin technology-related products and seek strategic acquisition opportunities. The company will also increase investment in compliance and risk management to cope with the trend of stricter industry supervision. Performance data shows that Sygnum's 2024 trading product revenue has exceeded the full-year level of 2023 in the third quarter, and the annual trading volume has increased by more than 1000% year-on-year. Its B2B platform provides encryption services to more than 20 institutions such as Swiss Post Bank, covering more than one-third of the Swiss population.