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The Silicon Review Asia

Sun Hung Kai & Co. Limited Invests in Sygnum's $90 Million Series B, Leads the Round

Sun Hung Kai & Co. Limited Invests in Sygnum's $90 Million Series B, Leads the Round

This round has propelled Sygnum's valuation to approximately $800 million

Digital asset technology group Sygnum's $90 million series B round was led by Sun Hung Kai & Co. Limited. The round was oversubscribed and increased the valuation of Sygnum to approximately $800 million.The series B round saw the participation of a large group of employees as personal investors too. 

“We have a strategic vision to expand our fund management offerings into digital assets. Amidst growing institutional demand and regulatory oversight of this sector, Sygnum, with its track record as a fully-regulated digital asset bank and asset manager, is the ideal partner for us to co-develop digital asset focused products together and to cater to the strong demand for digital asset solutions and services in Asia, Europe and beyond,”   said Lee Seng Huang, Group Executive Chairman of Sun Hung Kai & Co. Ltd.

The company will use the funding to accelerate Sygnum's development of new institutional-grade Web 3.0 offerings. The funding will further be used to improve its market-tested offerings into new global markets,, expand its Singapore hub's operations and provide opportunities to co-create and distribute innovative products internationally with its strategic investors.

“The digital asset economy is rapidly crossing the chasm to mainstream adoption, where investors will demand fully-regulated solutions as they accelerate their exposure. This financing round is a key milestone in our global expansion and in our mission to empower everyone everywhere to own digital assets with complete trust”, says Mathias Imbach, Sygnum Co-Founder and Group CEO.

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