Sygnum, along with SEBA (now AMINA), was one of the first two crypto startups to receive a Swiss banking license in 2019. After five years of development, the crypto bank announced that it reached profitability in the first half of the year and now plans to expand internationally.
The positive business results were attributed to enhanced trading capabilities and platforms, strategic partnerships with leading financial institutions for digital and traditional assets, and a diverse international team that now includes over 250 employees. Sygnum currently manages $4.5 billion in client assets and has $125 million in core capital. This follows a $40 million capital raise in January that valued the company at $900 million.
The crypto market plays along
Crypto asset service providers are often dependent on favorable market conditions. When prices and demand rise, trading platforms earn more fees. Crypto banks are similar, but aim for more diversified revenue streams. According to a press release, spot volume has doubled year-over-year, and the newly expanded derivatives platform has seen a 500% increase. In addition, the staking and lending businesses have grown significantly. However, the bank did not disclose specific revenue figures.
B2B integrations with two cantonal banks and PostFinance also contributed to the positive half-year results. The trading is handled by Sygnum in the background. In June, Sygnum reached a milestone of more than 20 B2B partner institutions, enabling more than one third of the Swiss population to trade cryptocurrencies through their primary banks. Over 1,000 transactions per day are processed through this service.
Expansion beyond the Crypto Valley
To further accelerate growth, the crypto bank is expanding its regulatory presence in European and Asian home markets. Sygnum has been active in Europe since its inception and has been licensed in Luxembourg, one of the world's leading fund centers, since 2022. In the first quarter of 2025, the bank plans to significantly expand its regulated presence with a new branch and licenses in the world's largest single market - the 30 countries of the European Union (EU) and the European Economic Area (EEA). With strong business results, the bank is prepared for a MiCA-compliant market entry. Markets in Crypto-Assets (MiCA) is the first EU regulatory framework for digital assets, which will come into force in January 2025 and impose new regulations on service providers.
In addition, Sygnum is expanding its presence in the Asian market through its long-standing office in Singapore. Plans for a regulated operation in Hong Kong are also well advanced. The bank has a growing team
