Sygnum Valued at $800M in $90M Funding Round: Report

Sygnum, which runs a digital-asset bank and trading platform, was valued at $800 million in a $90 million funding round, Bloomberg News reported on Thursday, citing a statement from the company.

Hong Kong firm Sun Hung Kai & Co. led the round. Animoca Brands and Canada’s Meta Investments also participated, Bloomberg reported, citing the statement.Sygnum is based in Switzerland and Singapore. Its products include the regulated trading of cryptocurrencies.The crypto company said it will use the funds for new offerings, including yield-generating products and asset-management products for institutional clients.

Read more: Switzerland’s Sygnum Bank Gets Into DeFi