Swiss digital asset banking group Sygnum It raised $58 million In a strategic growth round that was oversubscribed, pushing its valuation above $1 billion.

BitcoinVenture capital-focused firm Fulgur Ventures led the final closing as an anchor investor, joining new and existing strategic investors along with members of the Sygnum team.

Notably, the co-founders, board of directors, and team members retain majority ownership.

The banking group manages more than $5 billion in total client assets, with trading volumes rising more than 1,000% year-on-year in 2024, according to a statement shared with Decryption. This was achieved through Sygnum Partnership with PostFinancewhich began in April 2023, the statement claims.

Despite these milestones, Matthias Embach, Sygnum co-founder and group CEO, believes that, on a broader level, Switzerland is “losing ground to other jurisdictions.”

This means the country "should not ignore the importance of continuous innovation in the financial sector," Imbach said.

The growth round will strengthen Sygnum's expansion into EU/EEA markets and launch its regulated presence in Hong Kong. The company said it plans to expand its institutional infrastructure and expand its Bitcoin-focused product portfolio, as demand for regulated cryptocurrency services continues to grow.

In July last year, Sygnum launched a 24/7 multi-asset settlement network, Sygnum Connect, in partnership with digital asset exchange AsiaNext and prime broker Hidden Road.

Subsequently, the company also introduced Sygnum Protect, enabling institutional clients to trade on major cryptocurrency exchanges while keeping collateral in the custody of the bank.

"Trust without attitude"

Embach said that achieving unicorn status in its latest round is a “solid validation” of Sygnum’s strength and a signal for the bank to continue showing “confidence without attitude.”

In June 2023, Swiss authorities Confiscated $26 million worth of crypto assets It was held at Sygnum Bank by executives of collapsed cryptocurrency project Terraform Labs. This doubled previous estimates of funds held by former Terraform Labs CEO Do Kwon.

The takeover came after Terraform Labs acquired $40 billion Internal explosion In May 2022, which led to several fraud charges and Kwon's arrest in Montenegro on charges of forging a passport while fleeing to Dubai.

With the opening of 2025, Do Kwon He pleaded not guilty of US charges over the collapse of Terra. His trial was criminal Set for 2026 After being extradited to the United States

Sygnum did not return immediately DecryptionRequest for comment.