Sygnum Bank has completed a strategic rise round of financing with a post-investment valuation of US$100 million and a valuation of US$58 million. Fulgur Ventures led the investment.

BlockBeats news, on January 14th, according to The Block, the Switzerland and Singapore-based encryption bank Sygnum raised $58 million in a strategic round of financing, with Fulgur Ventures leading the over-subscription. The new capital will be used to expand its product portfolio (with a focus on BTC technology), grow its institutional infrastructure, strengthen its Compliance team, and explore strategic acquisition opportunities. The proceeds will also help Sygnum's EU expansion plans and establish regulated operations in Hong Kong.

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