- H1 2024 profit driven by strong business performance, including 500% rise in crypto derivatives trading, >360% increase in loan volumesi and >1,000 daily trades with 20+ B2B partner banks servicing more than a third of Swiss population
- Sygnum now holds ~$4.5 billion in client assets as well as >$125m USD equivalent core equity capital, following January $40m capital raise and $900m valuation
- Institutional client base approaching 2,000, serviced by growing 250-strong global team
- Sets stage for MiCA-compliant expanded EU market entry in Q1 2025 with new European office and additional licences
- Core business growth leveraged to further expand complementary traditional securities offering, and scale settlement network to enhance global crypto ecosystem connectivity
Zurich, 25 July, 2024: Sygnum, a global digital asset banking group with ~$4.5 billion in client assets, today reported that it has reached profitability following a strong H1 2024, with key metrics seeing substantial growth year-to-date (YTD). Business performance is enabled by expanded trading features and platform, strategic partnerships with leading digital asset and TradFi financial institutions, and a diverse, international team now over 250-strong.
Compared to the same period in 2023, the company has seen a two-fold increase in crypto spot trading volumes and a 500% rise in crypto derivatives trading on its newly-expanded platform. The company’s lending activities have also experienced strong growth, with the number of clients utilising Lombard loans almost doubling and loan volumes increasing by >360%i.
Sygnum’s Staking-as-a-Service offering has also grown, with the percentage of ETH staked by clients growing to 42%i – 15% above the global average. This is especially notable given the shifting dynamics around Ethereum-related ETF products. For institutional clients, staking ETH presents a unique benefit beyond the limitations of the ETF framework, which currently excludes staking yields.
“The approval and launch of Bitcoin and Ethereum ETFs were a watershed moment for the crypto sector this year, leading to a major increase in demand for trusted, regulated exposure to digital assets,” said Martin Burgherr, Sygnum’s Chief Clients Officer. “This is also reflected in Sygnum’s own growth, with our core business areas seeing a significant YTD increase in H1. We truly appreciate the continued trust of our clients, which provides the launch-pad for our accelerated international expansion, the development of new services and the scaling-up of our forward-looking initiatives for the crypto ecosystem.”
Sygnum’s institutional and professional investor client base is approaching 2,000, serviced by a diverse, international team now over 250-strong. Crypto transfer volumes on Sygnum’s institutional-grade, secure platform have increased substantially across Sygnum’s four core client segments – professional private investors, External Asset Managers and Multi-Family Offices, crypto foundations and DLT companies, and Funds and Hedge Funds.
Sygnum reached the milestone of 20+ B2B partner banks and financial institutions in June 2024, enabling more than a third of the Swiss population to conveniently trade crypto through their primary banks. Sygnum’s growing B2B roster, including names like PostFinance, Zuger Kantonalbank and Bordier & Cie, is highly active and facilitate more than 1,000 trades per day, with virtually 100% being Straight-Through Processed (STP) within seconds.
International expansion
To further accelerate its strong growth, Sygnum is expanding its regulated footprint in its home European and Asian markets. Sygnum has been active in Europe from launch and licenced in Luxembourg since 2022, one of the world’s leading fund centres. In Q1 2025, Sygnum will significantly expand its regulated footprint via a new office and licences in the world’s biggest single market, the 30 countries comprising the European Union (EU) and European Economic Area (EEA). Sygnum’s strong business performance and regulated banking platform sets the stage for its MiCA-compliant market entry. Markets in Crypto-Assets Regulation (MiCAR) is a suite of uniform EU market rules for crypto-assets aimed at supporting market integrity, investor protection and financial stability.
Additionally, Sygnum is expanding its Asian market footprint via its fully-regulated digital asset financial services platform in Singapore which offers asset management, corporate advisory, crypto custody and brokerage. Plans for regulated operations in Hong Kong are also at an advanced stage. Sygnum also has a growing team in Abu Dhabi where it offers local access to a portfolio of Swiss-regulated financial services.
Strategic growth drivers
Building on its international expansion, Sygnum is leveraging its core business growth to invest in a number of exponential growth drivers.
Sygnum Connect, a network designed to make transactions in the global crypto ecosystem faster, cheaper, less risky and more reliable, is currently being scaled-up. The network offers 24/7 free, instant settlement for fiat, crypto assets, and stablecoins that eliminates counterparty and settlement risks. The network, launched in 2024, places Sygnum at the centre of global crypto ecosystem development, driving capital efficiency, increasing financial system connectivity and enhancing institutional standards.
In response to numerous client requests, Sygnum is also expanding its traditional securities offering that generated multi-billion client demand following its 2023 launch. To further compliment clients’ core digital asset investments, the traditional securities offering will soon also include self-servicing, discretionary mandates and an integrated portfolio view across all asset classes.
Over the past six months, Sygnum has also raised over $40 million via an oversubscribed funding round, leading to its core equity capital reaching >$125 million USD equivalent, and the business being valued at $900 million. It has also partnered with Fidelity International, Matter Labs and Hamilton Lane on major tokenization projects, and collaborated with Chainlink to provide fund NAV data on-chain.
iCompared to the same period last year.
About Sygnum
Sygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. We empower professional and institutional investors, banks, corporates and DLT foundations to invest in digital assets with complete trust. Our team enables this through our institutional-grade security, expert personal service and portfolio of regulated digital asset banking, asset management, tokenisation and B2B services.
In Switzerland, Sygnum holds a banking licence and has CMS and Major Payment Institution Licences in Singapore. The group is also regulated in the established global financial hubs of Abu Dhabi and Luxembourg.
We believe that the future has heritage. Our crypto-native team of banking, investment and digital asset technology professionals are building a trusted gateway between the traditional and digital asset economies that we call Future Finance. To learn more about how Sygnum’s mission and values are shaping this digital asset ecosystem, please visit sygnum.com and follow us on LinkedIn and X.
Media Contact
Dominic Castley, CMO
[email protected]
Sygnum Bank AG,
Uetlibergstrasse 134a,
8045 Zurich, Switzerland
Disclaimer: The information in this publication pertaining to Sygnum Bank AG (“Sygnum”) is for general information purposes only, as per date of publication and should not be considered exhaustive. This publication does not consider the financial situation of any natural or legal person, nor does it provide any tax, legal or investment advice. This publication does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum to purchase or sell any assets. When making an investment decision, you should either conduct your own research and analysis or seek advice from an expert. No elements of precontractual or contractual relationship are intended. While the information is believed to be from accurate and reliable sources, Sygnum makes no representation or warranties, expressed or implied, as to the accuracy of the information and Sygnum expressly disclaims any and all liability that may be based on such information, omissions, or errors thereof. If nothing is indicated to the contrary, all figures are unaudited. Any statements contained in this publication attributed to a third party represent Sygnum’s interpretation of the data, information and/or opinions provided by that third party either publicly or through a subscription service, and such use and interpretation have not been reviewed by the third party. Sygnum reserves the right to amend or replace the information, in part or entirely, at any time, and without any obligation to notify the recipient of such amendment / replacement or to provide the recipient with access to the information. Simultaneously, there is no obligation of Sygnum to inform recipients of information, if before provided information later becomes outdated, inaccurate or obsolete, unless otherwise provided by applicable law. The information provided is not intended for use by or distributed to any individual or legal entity in any jurisdiction or country where such distribution, publication or use would be contrary to the law or regulatory provisions or in which Sygnum does not hold the necessary registration, approval authorization or license. Except as otherwise provided by Sygnum, it is not allowed to modify, copy, distribute or reproduce, display, license, or otherwise use any content for commercial purposes. The information herein refers to products and services of Sygnum and therefore constitutes advertising according to Art. 68 of the Swiss Financial Services Act (“FinSA”). Nonetheless, this document contains only general material and does not consider the financial situation of any natural or legal person, nor does it provide any tax, legal or investment advice. In particular, this publication does not constitute (i) any advice or recommendation, an offer or invitation by or on behalf of Sygnum to purchase or sell any assets; (ii) an inducement or incitement to participate in any product, offering or investment; (iii) a prospectus or key information document according to Swiss laws and regulations; nor shall it be construed as such. Where applicable, the full offering documentation of the products mentioned in this publication (such as for example the prospectus, offering memorandum, key information document (Basisinformationsblatt) may be obtained free of charge at Sygnum Bank AG, Uetlibergstrasse 134a, 8045 Zurich, Switzerland and/or by contacting us at https://www.sygnum.com/contact/. Some of the products mentioned in this publication might not qualify as units of a collective investment scheme according to the relevant provisions of the Swiss Federal Act on Collective Investment Schemes (“CISA”), as amended, and are not licensed thereunder. Therefore, neither such products nor the issuer is governed by the CISA nor approved by the Swiss Financial Market Supervisory Authority FINMA (“FINMA”). Accordingly, for such products investors do not have the benefit of the specific investor protection provided under the CISA. These materials and this publication are for distribution only under such circumstances as may be permitted by applicable laws. They are not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or would subject Sygnum or its partners to any registration, licensing or other legal requirement within such jurisdiction. Unless explicitly stated otherwise, no action has been or will be taken by Sygnum or its partners that would permit a public offering or a distribution of the products or possession or distribution of any offering material in relation to the products in any jurisdiction where action for that purpose is required. No offers, sales, resales or deliveries of any products or distribution of any offering material relating to any products may be made in or from any jurisdiction except in circumstances which will result in compliance with any applicable laws and regulations, and which will not impose any obligation on Sygnum. Where applicable, if and to the extent Sygnum has registered its prospectus with a prospectus evaluation body or a regulatory authority, further reference regarding the applicable selling and transfer restrictions is made to such prospectus. These materials may include statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements include, for example, the terms “believes”, “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “may”, “will” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Forward-looking statements speak only as of the date they are made. Without prejudice to any requirements under applicable laws and regulations, Sygnum and each of the participating authorized participants expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in these materials to reflect any change in expectations thereof or any change in events, conditions or circumstances on which any such forward-looking statement is based, whether as a result of new information, future developments or otherwise. These materials are not a complete statement of the markets and developments referred to herein. Where applicable, some figures may refer to past performances or simulated past performances and past performance is not a reliable indicator of future results. Some figures may be forecasts only and forecasts are not a reliable indicator of future performance. Investment decisions should always be taken in a portfolio context and make allowance for your personal situation and consequent risk appetite and risk tolerance. No reliance may be placed for any purpose on the information contained in these materials or its accuracy or completeness. None of the participating authorized offerors, authorized participants, or distributors or any of their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in these materials (or whether any information has been omitted from them) or any other information relating to Sygnum or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of these materials or its contents or otherwise arising in connection therewith.
Sign up for Future Finance
Join our 40,000 strong global community to future proof your investments. Sign up now to be the first to receive our news, product launches, industry reports and educational series.