Crypto banking firm Sygnum has announced a strategic partnership with crypto derivatives exchange Deribit to expand its off-exchange custody platform, Sygnum Protect,
This collaboration, which was announced today March 5, 2025, aims to provide institutional traders with enhanced asset security while maintaining seamless access to Deribit’s extensive trading options and liquidity.
With this partnership, Deribit’s institutional clients can now store their digital assets in Sygnum’s regulated, institutional-grade custody while executing trades on the exchange. This setup is designed to mitigate counterparty risks and strengthen protection against cybersecurity threats, a growing concern in the digital asset space.
“This integration provides institutional traders with both the capabilities and security assurances they require to trade any of Deribit’s leading products comfortably,”
said Deribit CEO Luuk Strijers.
The collaboration also involves Fireblocks, a crypto infrastructure provider, which has contributed its off-exchange trading solution. Fireblocks’ technology ensures that trades executed on Deribit reflect assets securely held in Sygnum’s custody without requiring direct deposits to the exchange.
Fireblocks CEO Michael Shaulov highlighted the broader impact of this integration:
“Exchanges and custodians can now leverage our standardized integration without requiring custom development — accelerating institutional adoption so assets can be securely held via regulated bank custody.”
Beyond this partnership, Sygnum has strengthened its financial position with a $58 million investment in an oversubscribed Strategic Growth Round, pushing its valuation beyond $1 billion and earning it the status of a “unicorn” in the crypto banking sector. The funding, announced on January 14, was led by Bitcoin-focused venture capital firm Fulgur Ventures, alongside participation from new and existing investors as well as Sygnum’s own team members.
Sygnum CEO Mathias Imbach described the company’s billion-dollar valuation as a validation of its business model, strategy, and team efforts. The funds will support Sygnum’s expansion into the European Economic Area (EEA) and Hong Kong, enhancing its Bitcoin services and expanding its product range.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
