Crypto-asset fin services provider SCRYPT has announced it has raised $5 million. The firm is also pleased to announce that it has doubled its client book and seen trading volume increase 18 times year on year.
Founded in 2020, the Swiss company now offers a suite of crypto services, including trading, custody, and staking.
SCRYPT services over 200 institutional clients and recently received Swiss regulatory approval to launch asset management solutions, with SCRYPT Digital Investments AG, receiving a portfolio manager licence from the Swiss Financial Market Supervisory Authority (FINMA) in July of 2023.
Braza Bank led the funding, with participation from venture capital firms including Funfair Ventures, Cabrit Capital, and Atlantic Labs.
Norman Wooding, Founder and CEO of SCRYPT, states:
“We are pleased to confirm that 2024 is off to a strong start at SCRYPT, with the close of a strategic investment from Braza Bank and significant growth across all verticals in the business.
I am excited for SCRYPT’s future, especially as we expand into LATAM and capitalise on the region’s booming crypto market.”
Marcelo Sacomori, Founder and CEO of Braza Bank, added:
“Choosing SCRYPT as our partner to launch our cryptocurrency services was a strategic and natural decision.
Their exceptional expertise in the crypto asset space, coupled with their robust, regulated infrastructure, establishes SCRYPT as an invaluable partner for Braza Bank as we introduce these cutting-edge services to our millions of customers.’’
The funds will be used by SCRYPT to scale operations and enhance its product offerings.
Lead image: SCRYPT. Photo: uncredited.
