SBI Holdings, a Japanese financial services company, will spearhead an ongoing round of strategic fundraising for Swiss digital asset bank Sygnum. The funds will be used to help the firm expand its client base and enter new markets.
The firm, which has bases in Switzerland and Singapore, said the fundraising effort will generate an investment of about $30 mln over the six months. This will help the company increase its assets under management, which totaled more than $500 mln as of January 2021.
As the company prepares for a possible public offering, the raised capital will also go towards expanding Sygnum's range of depository offerings, commercializing its own tokenization platform and secondary marketplaces, and expanding the open banking API infrastructure.