WeMade Invests in Sygnum Bank

WeMade announced on Jan. 6 that it participated as a strategic investor in Sygnum Bank’s Series B funding round.

The other participants include Tencent, Animoca Brands, Sun Hung Kai Properties, Meta Investment and various DeFi protocols.

Sygnum Bank is the first cryptocurrency bank in the world. Last year, the Swiss bank’s sales increased 10-fold compared to the previous year. The number of its clients is about 1,000, including financial institutions, enterprises and individual investors.

The current enterprise value of the bank is US$800 million. It is planning to expand its business in the Web 3.0 and DeFi markets and a number of countries based on the funding.