Swiss regulated digital asset bank Sygnum announced that it posted its first profit following strong growth in the first half of 2024.
Spot cryptocurrency trading volumes have doubled for that period, but there’s been significant growth in the riskier areas. That includes 500% growth in derivatives trading and loan volumes increasing more than 360% including a doubling of Lombard (private wealth) loans.
“The approval and launch of Bitcoin and Ethereum ETFs were a watershed moment 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.”
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