The crypto bank achieves profitability in H1 2024 with significant growth in trading and lending.
The company plans EU expansion in 2025 to capitalize on the evolving crypto regulatory landscape.
The
Swiss-based digital asset banking group Sygnum announced today (Thursday) that it
has achieved profitability in the first half of 2024. This was driven by strong growth
across its core business segments. The company also revealed plans for an expansion
into the European Union market in early 2025.
Sygnum Reports
Profitability and $4.5B in Assets
The
crypto-focused bank reported substantial increases in trading volumes and
lending activities compared to the same period last year. Crypto spot trading
volumes doubled, while derivatives trading surged by 500%. The company's
lending business saw loan volumes rise by over 360%, with the number of clients
using Lombard loans nearly doubling.
Sygnum's
client assets under management have grown to approximately $4.5 billion,
supported by a client base approaching 2,000 institutional and professional
investors. The company's workforce has expanded to over 250 employees globally.
Martin Burgherr, Sygnum's Chief Clients Officer
Martin
Burgherr, Sygnum's Chief Clients Officer, attributed the growth partly to
increased institutional demand following the approval of Bitcoin and Ethereum
ETFs earlier this year.
“The
approval and launch of Bitcoin and Ethereum ETFs were a watershed moment for
the crypto sector this year, leading to a major increase in demand for trusted,
regulated exposure to digital assets,” Burgherr stated. “This is also
reflected in Sygnum’s own growth, with our
core business areas seeing a significant YTD increase in H1.”
Crypto Bank Plans EU
Expansion amid Market Rebound
In addition,
Sygnum announced plans to expand its regulated footprint in the European Union.
The company aims to open a new office and obtain additional licenses in Q1
2025, positioning itself for compliance with the upcoming Markets in
Crypto-Assets Regulation (MiCA).
“Sygnum has
been active in Europe from launch and licensed in Luxembourg since 2022, one of the world’s leading fund centres,” the
company commented. “In Q1 2025, Sygnum will significantly expand its regulated
footprint via a new office and licences
in the world’s biggest single market.”
In recent years, Sygnum has also placed a strong emphasis on obtaining a license in Singapore. It has been announcing these plans since 2019. Due to the lengthy regulatory process, it took several years, but last October the digital bank finally obtained a full license for crypto brokerage services.
Sygnum also
highlighted the growth of its B2B partnerships, now serving over 20 banks and
financial institutions that collectively provide crypto trading access to more
than a third of the Swiss population. The company processes over 1,000 trades
daily through these partnerships, with nearly all transactions executed via
straight-through processing.
The bank's
recent $40 million funding round, which valued the company at $900 million, has
bolstered its core equity capital to over $125 million. Earlier, the company raised $90 million in a Series B funding round.
Sygnum plans to
leverage this capital to expand its traditional securities offering and scale
up its Sygnum Connect network, aimed at enhancing global crypto ecosystem
connectivity.
The
Swiss-based digital asset banking group Sygnum announced today (Thursday) that it
has achieved profitability in the first half of 2024. This was driven by strong growth
across its core business segments. The company also revealed plans for an expansion
into the European Union market in early 2025.
Sygnum Reports
Profitability and $4.5B in Assets
The
crypto-focused bank reported substantial increases in trading volumes and
lending activities compared to the same period last year. Crypto spot trading
volumes doubled, while derivatives trading surged by 500%. The company's
lending business saw loan volumes rise by over 360%, with the number of clients
using Lombard loans nearly doubling.
Sygnum's
client assets under management have grown to approximately $4.5 billion,
supported by a client base approaching 2,000 institutional and professional
investors. The company's workforce has expanded to over 250 employees globally.
Martin Burgherr, Sygnum's Chief Clients Officer
Martin
Burgherr, Sygnum's Chief Clients Officer, attributed the growth partly to
increased institutional demand following the approval of Bitcoin and Ethereum
ETFs earlier this year.
“The
approval and launch of Bitcoin and Ethereum ETFs were a watershed moment for
the crypto sector this year, leading to a major increase in demand for trusted,
regulated exposure to digital assets,” Burgherr stated. “This is also
reflected in Sygnum’s own growth, with our
core business areas seeing a significant YTD increase in H1.”
Crypto Bank Plans EU
Expansion amid Market Rebound
In addition,
Sygnum announced plans to expand its regulated footprint in the European Union.
The company aims to open a new office and obtain additional licenses in Q1
2025, positioning itself for compliance with the upcoming Markets in
Crypto-Assets Regulation (MiCA).
“Sygnum has
been active in Europe from launch and licensed in Luxembourg since 2022, one of the world’s leading fund centres,” the
company commented. “In Q1 2025, Sygnum will significantly expand its regulated
footprint via a new office and licences
in the world’s biggest single market.”
In recent years, Sygnum has also placed a strong emphasis on obtaining a license in Singapore. It has been announcing these plans since 2019. Due to the lengthy regulatory process, it took several years, but last October the digital bank finally obtained a full license for crypto brokerage services.
Sygnum also
highlighted the growth of its B2B partnerships, now serving over 20 banks and
financial institutions that collectively provide crypto trading access to more
than a third of the Swiss population. The company processes over 1,000 trades
daily through these partnerships, with nearly all transactions executed via
straight-through processing.
The bank's
recent $40 million funding round, which valued the company at $900 million, has
bolstered its core equity capital to over $125 million. Earlier, the company raised $90 million in a Series B funding round.
Sygnum plans to
leverage this capital to expand its traditional securities offering and scale
up its Sygnum Connect network, aimed at enhancing global crypto ecosystem
connectivity.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
From Chat to Stock: xStocks Puts Tokenized U.S. Equities Inside TON Wallet on Telegram
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
