Sygnum, a global Swiss crypto banking group managing around $4.5 billion in client assets, has reported profitability following a robust first half of the year, marked by significant growth across key metrics.
In a recent news release, Sygnum announced that compared to the same period last year, it experienced a twofold increase in crypto spot trading volumes, a 500% expansion in crypto derivatives trading, and a 360% surge in lending volumes. While specific profit figures for the first half were not disclosed, these metrics underscore the bank’s successful performance.
The bank also highlighted substantial growth in its Staking-as-a-Service, with the percentage of Ethereum staked by clients rising to 42%. For institutional clients, staking Ethereum offers advantages beyond the limitations of ETF frameworks, which typically exclude staking yields.
“The approval and launch of Bitcoin and Ethereum ETFs were watershed moments for the crypto sector this year, leading to a major increase in demand for trusted, regulated exposure to digital assets,” said Martin Burgherr, Sygnum’s Chief Clients Officer. “This is also reflected in Sygnum’s own growth, with our core business areas seeing a significant YTD increase in H1.”
Sygnum, which has been licensed in Luxembourg since 2022, plans to further expand its presence in both the European and Asian markets, according to the release. This strategic expansion aims to capitalize on the growing global demand for regulated digital asset services.
