SBI-Sygnum-Azimut digital asset venture fund makes first investment into Coinhako

The SBI-Sygnum-Azimut Digital Asset Opportunity (DAO) fund announces today that it has made its first investment into Coinhako, Singapore’s leading cryptocurrency exchange. The strategic fundraising round was three-times oversubscribed and attracted other prominent institutional investors including SBI Group, Japan’s largest FinTech conglomerate and a global leader in blockchain adoption.

  • Coinhako will use the proceeds to expand geographically into Southeast Asia, as well as into institutional and high-net-worth customer segments
  • SBI, Sygnum and Azimut will lend their combined expertise and wide-reaching networks across traditional finance and digital assets to support Coinhako’s expansion
  • With several promising targets in the pipeline, the DAO fund aims to provide a platform for investee companies to leverage the strength of its existing network and the future network of its portfolio

Coinhako recently received an in-principle approval from the Monetary Authority of Singapore (MAS) to provide digital payment token services as a major payment institution. The new funds raised will now enable the company to grow its team as it expands across Southeast Asia to serve the region’s rapidly growing cryptocurrency user base. The funds will also accelerate Coinhako’s acquisition of a deeper and wider customer base in Singapore with Coinhako Privé, its recently launched institutional and high-net-worth offering.

SBI, Sygnum and Azimut will lend their combined expertise and wide-reaching networks across traditional finance and digital assets to support Coinhako’s expansion plans. With several potential investment targets already in the pipeline, the DAO fund, which brings together the collective digital asset experience and networks of SBI, Sygnum and Azimut, aims to accelerate the growth of promising companies in this sector, while providing qualifying investors with unrivalled access to the fast-growing digital asset economy.

Director of the Digital Asset Opportunity fund, Alice Mak, says “We are excited to have Coinhako as the first investment of the DAO fund. As we continue to invest in top digital asset companies, the fund will provide them with a platform to accelerate their growth by leveraging the strength of our existing network and the future network of the fund’s portfolio.”

Co-Founder and CEO of Coinhako, Yusho Liu, says“Coinhako has been able to close our previous fund raises with prominent foreign venture capitalists, dating back to our angel round in 2014. Today, we are excited to onboard a new set of strategic investors with a strong presence in Singapore to accelerate our growth in the financial hub and across the region.”

CEO Singapore of Sygnum, Gerald Goh, says “Coinhako shows significant potential to be a key cryptocurrency player in Asia, and with the approval from MAS will be a trusted node in the digital asset ecosystem. We look forward to supporting them as they expand.”

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About Sygnum
Sygnum is the world’s first digital asset bank, and a digital asset specialist with global reach. With Sygnum Bank AG’s banking licence in Switzerland, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers institutional and private qualified investors, corporates, banks, and other financial institutions to invest in the digital asset economy with complete trust. Sygnum Bank AG operates an independently controlled, scalable, and future-proof regulated banking platform. Our interdisciplinary team of banking, investment, and Distributed Ledger Technology (DLT) experts is shaping the development of a trusted digital asset ecosystem. The group is founded on Swiss and Singapore heritage, and operates globally. To learn more about Sygnum, please visit www.sygnum.com.

Media Contact:
Philippe Blangey
T: +41 79 785 46 32
E: [email protected]

Corporate Contact:
Dominic Castley
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Disclaimer: This document was prepared by Sygnum Bank AG. This document may contain forward looking statements and may be subject to change. The opinions expressed herein are those of Sygnum Bank AG, its affiliates, and partners at the time of writing. The document is for informational purposes only and contains general material. It is for use by the recipient only. It does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum Bank AG to purchase or sell assets or securities. It is not intended to be used as a general guide to investing, and should be used for informational purposes only. When making an investment decision, you should either conduct your own research and analysis or seek advice from an expert to make a calculated decision. The information and analyses contained in this document have been compiled from sources believed to be reliable. However, Sygnum Bank AG makes no representation as to its reliability or completeness and disclaims all liability for losses arising from the use of this information.

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