EQS-News: Dynamics Group AG
/ Key word(s): Cryptocurrency / Blockchain/Funds
PRESS RELEASE SBI-Sygnum-Azimut digital asset venture fund makes first investment into Coinhako - Coinhako will use the proceeds to expand geographically into Southeast Asia, as well as into institutional and high-net-worth customer segments - SBI, Sygnum and Azimut will lend their combined expertise and wide-reaching networks across traditional finance and digital assets to support Coinhako's expansion - With several promising targets in the pipeline, the DAO fund aims to provide a platform for investee companies to leverage the strength of its existing network and the future network of its portfolio Coinhako recently received an in-principle approval from the Monetary Authority of Singapore (MAS) to provide digital payment token services as a major payment institution. The new funds raised will now enable the company to grow its team as it expands across Southeast Asia to serve the region's rapidly growing cryptocurrency user base. The funds will also accelerate Coinhako's acquisition of a deeper and wider customer base in Singapore with Coinhako Privé, its recently launched institutional and high-net-worth offering. SBI, Sygnum and Azimut will lend their combined expertise and wide-reaching networks across traditional finance and digital assets to support Coinhako's expansion plans. With several potential investment targets already in the pipeline, the DAO fund, which brings together the collective digital asset experience and networks of SBI, Sygnum and Azimut, aims to accelerate the growth of promising companies in this sector, while providing qualifying investors with unrivalled access to the fast-growing digital asset economy. Director of the Digital Asset Opportunity fund, Alice Mak, says "We are excited to have Coinhako as the first investment of the DAO fund. As we continue to invest in top digital asset companies, the fund will provide them with a platform to accelerate their growth by leveraging the strength of our existing network and the future network of the fund's portfolio." CEO Singapore of Sygnum, Gerald Goh, says "Coinhako shows significant potential to be a key cryptocurrency player in Asia, and with the approval from MAS will be a trusted node in the digital asset ecosystem. We look forward to supporting them as they expand." --- END --- About Sygnum
About SBI Group The SBI Group's core businesses include Financial Services Business, Asset Management Business and Biotechnology-related Business. As of March 31, 2021, the SBI Group consists of more than 200 companies (including consolidated partnerships, equity method affiliates and 15 publicly listed companies). SBI currently has investments or overseas offices in more than 20 countries. SBI Ven Capital Pte. Ltd. is a leading venture capital firm that invests in financial services and technology sectors across Asia. It has a proven track record of partnering with companies and assembling critical resources needed to grow businesses in Asia. SBI Ven Capital holds a capital markets services (CMS) licence issued by the Monetary Authority of Singapore. About Azimut
Disclaimer: This document was prepared by Sygnum Bank AG. This document may contain forward looking statements and may be subject to change. The opinions expressed herein are those of Sygnum Bank AG, its affiliates, and partners at the time of writing. The document is for informational purposes only and contains general material. It is for use by the recipient only. It does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum Bank AG to purchase or sell assets or securities. It is not intended to be used as a general guide to investing, and should be used for informational purposes only. When making an investment decision, you should either conduct your own research and analysis or seek advice from an expert to make a calculated decision. The information and analyses contained in this document have been compiled from sources believed to be reliable. However, Sygnum Bank AG makes no representation as to its reliability or completeness and disclaims all liability for losses arising from the use of this information. End of Media Release |
1254654 07.12.2021
