Sygnum raises USD 90 mln, hits USD 800 mln valuation

The financing was led by Sun Hung Kai & Co., and included investors like Animoca Brands and Canada’s Meta Investments, according to a statement from Sygnum. Sygnum, based in Switzerland and Singapore, plans to use the proceeds to develop new offerings including yield-generating products and asset-management solutions for institutional clients, the statement said.

Sygnum, whose products include regulated trading of numerous cryptocurrencies, raised money after a year in which venture capital poured about USD 30 billion into crypto -- more than all previous years combined, Bloomberg concluded.