According to online reports, digital asset banking group Sygnum announced that it has completed a US$58 million strategic growth round of financing, with a post-investment valuation of more than US$1 billion. This round of financing was led by Fulgur Ventures, a venture capital institution focusing on Bitcoin technology. New and old investors and company employees participated together, and the founding team still maintained a controlling position. The funds will be mainly used for EU/European Economic Area market expansion and Hong Kong compliance business layout in 2025. Sygnum plans to strengthen the development of Bitcoin technology-related products and seek strategic acquisition opportunities. At the same time, the company will increase investment in compliance and risk management to cope with the tightening trend of industry supervision. Performance data shows that Sygnum's 2024 trading product revenue has exceeded the full-year 2023 level in the third quarter, and the annual trading volume increased by more than 1000% year-on-year. Its B2B platform provides encryption services to more than 20 institutions including Swiss Post Bank, covering more than one-third of Switzerland's population.