SBI Makes 'Eight-figure' Investment in Swiss Crypto Bank
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SBI Digital Asset Holdings, a cryptocurrency-focused arm of SBI Group, has made an eight-figure investment in Sygnum, a Swiss crypto bank. According to an announcement, Sygnum has raised approximately $30 million over the past half a year. The investment will help the bank to expand both of its private and institutional investors base, banks and other financial institutions.

"The proceeds will also drive Sygnum’s expansion into new markets in Europe and Asia...," the bank said.

SBI Holdings CEO, Yoshitaka Kitao, says the Japanese financial conglomerate believes in the potential that cryptocurrencies and security tokens "bring to investors and financial institutions."

Swiss Crypto Bank Adds Support for BCH and USDC

In December last year, Sygnum announced the tokenization of its own shares as a part of its plans to go public. The bank made it possible with the help of an in-house tokenization platform called Desygnate.

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