After successfully raising $58 million in a strategic growth round, cryptocurrency banking group Sygnum has announced its plans to expand into multiple markets.
The company has now achieved unicorn status, with a post-money valuation of over $1 billion. With the new funds, Sygnum will focus on developing Bitcoin-based products and pursuing strategic acquisitions as it enters new regions.
Among the investors in the funding round were Fulgur Ventures, a well-known supporter of major industry platforms such as Blockstream, the creator of the Liquid Network for Bitcoin.
Other strategic and financial investors, as well as members of the Sygnum team, also took part in the oversubscribed funding round.
