Sun Hung Kai – among the top major Hong Kong-based property developers – reportedly made continual efforts in confiding in the crypto sphere, via making investments in Swiss crypto outfit Sygnum.

Specifically, per an official announcement from Sygnum on January 6th, the firm has reportedly concluded a $90-million Series B round led by Sun Hung Kai, a real estate heavyweight and alternative investment entity in Hong Kong.

As revealed by Sun Hung Kai executive chairman Lee Seng Huang, the firm reportedly aims to follow a strategic vision of widening the scope of its fund management offerings, to cover virtual assets.

“Amidst growing institutional demand and regulatory oversight of this sector, Sygnum, with its track record as a fully-regulated digital asset bank and asset manager, is the ideal partner for us to co-develop digital asset focused products together and to cater to the strong demand for digital asset solutions and services in Asia, Europe and beyond,”

The capital injection has reportedly helped Sygnum achieve the $800 million benchmark in terms of post-money valuation, marking a ten-time increase in consolidated revenues from 2021.

The freshly secured funding will reportedly be dedicated to assisting the Swiss firm in broadening its global footprints, introducing new products via partnering with strategic investors, speeding up the development of new institutional-grade Web3 offerings, nominally DeFi pools, and staking services. 

The funding will further reinforce alliances formed with a variety of blockchain ecosystems, nominally the Dfinity Foundation.

The fundraising round also witnessed participation from nonfungible token (NFT) firms, for instance, Animoca Brands and WeMade, investment companies from Canada Meta Investments, together with the current strategic investors, nominally SBI Holdings and Siam Commercial Bank’s digital investment arm, SCB 10X.