SBI Digital Asset Holdings, the umbrella company for digital assets of the Japanese SBI Group, has made a double-digit million investment in the crypto bank Sygnum. The investment comes on the back of a collaboration agreed between the SBI Group and Sygnum back in the fall. In October, the two partners announced the launch of an early-stage financing fund that targets investments in the area of digital assets in Europe and south-east Asia.
Including the latest investment, Sygnum has now raised a total of 30 million US dollars over the past six months, according to a press release. The crypto bank therefore remains “well-capitalized”, with plans now in place to primarily concentrate on expanding the client base in Europe and Asia. Moreover, the company intends to accelerate the market launch of new products and services, while Sygnum has also tokenized its own shares. According to information from the company itself, this has therefore laid the foundations for a potential IPO at some stage in the future.
“Regulated banking platforms will play an essential role in meeting the growing wave of institutional adoption for digital assets”, comments Fernando Luis Vasquez Cao, CEO of SBI Digital Asset Holdings, in the press release. “As a regulated and professional digital asset specialist, Sygnum is the right partner to help us deliver on our vision to make this asset class more trusted”, he adds.