The Swiss crypto bank is launching a venture capital digital asset fund with partners, including a Japanese financial services firm expanding its business.
Crypto bank Sygnum and Tokyo-based SBI are partnering with the Italian wealth manager Azimut, to launch a venture capital digital asset fund of up to $75 million, according to a statement Thursday. The fund is based in Singapore and will invest in start-up companies in the digital asset sector across Europe and Southeast Asia.
SBI's Tracks
SBI Group was a subsidiary of Softbank until 2006. Today it operates the second-largest private trading venue in Japan, after Tokyo and offers a broad range of financial services.
Earlier this year the company invested a double digit million sum in Sygnum.
SBI has other tracks in Switzerland as well: in December it began cooperating with Swiss exchange operator SIX to build a Singapore liquidity hub for digital assets. It is also invested in Stuttgart's digital exchange and is building a crypto exchange in Osaka with Sumitomo Mitsui Bank.
