Sygnum, a crypto banking group based in Switzerland, closed a $40 million round, which valued the firm at $900 million.
“Closing a successful funding round in this macro environment with such strong partners is exciting, and we are thankful for our investors’ trust in us,” Mathias Imbach, Sygnum’s co-founder and CEO, said in a press release on Thursday. “Our strategy to build trust via regulation and good governance has guided us throughout all market cycles.”
Investment manager Azimut Holdings led the round. The company says it plans to use the proceeds to expand its offerings into new markets in Europe and Asia