Swiss financial institution SygnumBank recently released its mid-year performance report, revealing substantial growth in both spot and derivative cryptocurrency transactions. This growth is particularly notable following the launch of Bitcoin (BTC) exchange-traded funds (ETFs) in the United States and the approval of Ethereum (ETH). The Zurich-based firm did not disclose specific profit figures, but stated that spot cryptocurrency trading volumes doubled year-over-year, while volumes for crypto derivatives surged by 500%. To support its rapid expansion, Sygnum successfully raised $40 million in January, increasing its core capital to approximately $125 million. Sygnum operates under licenses in Luxembourg, Singapore, and Switzerland, and intends to acquire new licenses based on the Cryptocurrency Markets Act (MiCA) regulations in Europe. The MiCA regulations, which came into effect last month, introduce a unified regulatory environment across 27 member states, facilitating Sygnum's further penetration of the European market. The company also aims to expand its regulated business in Hong Kong to capitalize on opportunities in the Asian market. SygnumBank's actions demonstrate its commitment to continuous growth in the cryptocurrency sector and its extensive global presence.