Japanese financial conglomerate SBI Holdings has spearheaded the current round of investments by Swiss digital asset bank Sygnum. In total, the bank attracted more than $ 30 million in six months.
Swiss banking licensing company Sygnum has announced that it has received an “eight-figure” investment in US dollars from SBI’s subsidiary SBI Digital Asset Holdings. The funds will be used to expand the client base and enter new markets in Europe and Asia.
The finance company, with offices in Switzerland and Singapore, said its fundraising efforts have generated nearly $ 30 million in investments over the past six months. This will help Sygnum increase the volume of assets under management, which exceeded $ 500 million in January 2021.
As the bank prepares for a possible public offering, the raised capital will be used to expand Sygnum’s depository offerings, commercialize its tokenization platform and secondary marketplaces, and expand the open banking API infrastructure.
“With a strong start in 2021, we look forward to working with our partners to continue to create new solutions, launch new products and ultimately provide our customers with the opportunity to participate in the fast-growing digital asset industry in a secure, convenient and fully regulated environment, ”said Gerald Goh, co-founder and CEO of Sygnum Singapore.
Recently SBI has announced several projects related to cryptocurrencies and blockchain. Recently it became known that a Japanese financial conglomerate is negotiating with foreign financial firms to create a joint venture focused on cryptocurrencies.
In addition, SBI Holdings and Sumitomo Mitsui Financial Group (SMFG) announced earlier this month that they will launch a blockchain digital securities exchange in Osaka in the spring of 2022 to compete with the Tokyo Stock Exchange.
Telegram channel!
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
