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Japan’s SBI invests ‘eight-figure’ aggregate in Swiss crypto bank Signam

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Japanese financial services firm SBI Holdings is leading an ongoing round of strategic fundraising for Swiss Digital Assets Bank Signal.

Swiss banking licensee Signum said Tuesday it has acquired an “eight-figure” US dollar investment from SBI subsidiary SBI Digital Asset Holdings, which will help the company grow its client base and expand to new markets in Europe and Asia.

The firm, which has bases in Switzerland and Singapore, said the fundraising initiative would bring in about $ 30 million in investment over the past six months, helping the company grow its assets under the administration, which was more than 500 500 million by January 2021.

As the company prepares for a potential manpower, the raised capital will go a long way in expanding the scope of Signage’s custody offer, further expanding its tokenization platform and secondary market business opportunities, as well as expanding its open banking API infrastructure.

“With this strong start to 2021, we look forward to working with our partners to innovate new solutions, launch new products and ultimately empower our clients to participate in safe, convenient and fast-growing digital resources. In a completely regulated manner, ”said Gerald Goh, co-founder and CEO of Signum Singapore.

The two companies have had a business relationship since last October Launch a fund Cryptocurrency focuses on investment opportunities at an early stage in Singapore.

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