A Sygnum-backed fund makes its first investment, into a Singaporean crypto bourse.
The venture capital fund run by the trio Sygnum, SBI, and Azimut is investing in crypto bourse Coinhako, as the fund pushes into Southeast Asia, according to a statement Tuesday.
Sygnum, a Zurich-based crypto bank, recently teamed up with Tokyo-based SBI and Italian wealth manager Azimut to launch the $75 million digital asset fund. It aims to invest in digital asset companies in Europe and Southeast Asia.
Asia Crypto Ambitions
The Swiss stock exchange SIX is also linked SBI, with which it is building a Singapore liquidity hub for digital assets. SIX CEO Jos Dijsselhof plans to establish a crypto offering in Asia, he told finews.com last month.
Coinhako will use the venture capital funds to serve Southeast Asia's growing cryptocurrency user base, according to the statement. It this month became the first crypto exchange to receive backing from the Monetary Authority of Singapore to provide digital payment token services.
