Japan’s SBI Investing ‘Eight-Figure’ Sum in Swiss Crypto Bank Sygnum

Japan’s SBI Investing ‘Eight-Figure’ Sum in Swiss Crypto Bank Sygnum


SBI Holdings, a Japanese financial services firm, is to lead an ongoing strategic fundraising round for Swiss digital asset bank Sygnum. 

Sygnum, which holds a Swiss banking license, said Tuesday it has secured an “eight-figure” U.S. dollar investment from SBI’s subsidiary, SBI Digital Asset Holdings, which will be used to help the firm grow its client base and expand into new markets across Europe and Asia.

The firm, which has bases in Switzerland and Singapore, said the fundraising effort will have brought in investment of around $30 million over the past six months, helping the firm grow its assets under administration, which stood at over $500 million as of January 2021.

Coming as the company prepares for a possible public offering, the capital raised will also go toward increasing Sygnum’s range of custody offerings, commercializing its tokenization platform and secondary market trading facility, as well as expanding its open banking API infrastructure. 

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