After Profitable H1 2024, Swiss Crypto Bank Sygnum Targets EU and Asia Growth
Sygnum Bank, a leading Swiss crypto bank, has announced plans to expand its operations into the European Union and Asia following a profitable first half of 2024. The bank reported strong financial results, driven by increased demand for its digital asset banking services.
Sygnum, which was founded in 2018 and became the world’s first digital asset bank, has seen significant growth in its client base and assets under management. The bank’s focus on providing secure and regulated access to cryptocurrencies and other digital assets has positioned it well in the rapidly evolving financial landscape.
“Our strong performance in the first half of 2024 demonstrates the growing appetite for digital asset banking services,” said Mathias Imbach, co-founder and CEO of Sygnum Bank. “We are now looking to expand our presence in key markets across the European Union and Asia, where we see significant opportunities for growth.”
The bank’s expansion plans include establishing new offices in major financial hubs and forming strategic partnerships with local institutions. Sygnum aims to leverage its expertise in digital asset custody, trading, and tokenization to serve a broader range of institutional and private clients.
In Q1 2025, Sygnum plans to significantly expand its regulated footprint via a new office and licenses in the 30 countries comprising the EU and EEA. Sygnum’s expansion will be compliant with the upcoming Markets in Crypto-Assets Regulation (MiCAR), a suite of uniform EU market rules for crypto-assets. Sygnum has been active in Europe from launch and licensed in Luxembourg, a major fund center, since 2022.
Sygnum is expanding its Asian market presence through its fully-regulated digital asset financial services platform in Singapore, which offers asset management, corporate advisory, crypto custody and brokerage. Plans for regulated operations in Hong Kong are at an advanced stage. Sygnum also has a growing team in Abu Dhabi where it offers local access to its Swiss-regulated financial services.
In addition to its expansion plans, Sygnum has also been actively involved in shaping the regulatory framework for digital assets. The bank has worked closely with Swiss authorities to develop a robust and transparent regulatory environment that fosters innovation while protecting investors.
As the adoption of cryptocurrencies and digital assets continues to accelerate, Sygnum’s expansion into new markets is expected to further solidify its position as a leading player in the industry. The bank’s commitment to providing secure and compliant services, combined with its innovative offerings, sets it apart in the rapidly evolving world of digital finance.
With a profitable first half of 2024 and ambitious expansion plans, Sygnum Bank is well-positioned to capitalize on the growing demand for digital asset banking services in Europe and Asia. As the financial landscape continues to shift towards digital assets, Sygnum’s expertise and forward-thinking approach are likely to play a significant role in shaping the future of banking.
Angel Marinov is the Managing Editor at Coinlabz. With extensive knowledge of crypto payments and blockchain use cases, Angel is a trusted source of accurate and timely information
