SCRYPT closes financing round with 5 million dollars

Zug/Zurich – SCRYPT has received 5 million dollars in a financing round. The main investor is Brazil’s Braza Bank, which will now launch SCRYPT’s regulated crypto-asset services in Latin America. According to SCRYPT, the trading volume has increased 18-fold compared to the previous year.

SCRYPT has announced the successful completion of a 5 million dollar strategic financing round. It was led by the Brazilian Braza Bank. The venture capital firms Funfair Ventures (Isle of Man), Cabrit Capital (Dubai) and Atlantic Labs (Berlin) have also invested.

The provider of crypto services such as trading, custody and staking has also announced that it has doubled its customer base and increased its trading volume 18-fold compared to the previous year. Founded in 2020 and headquartered in Zug with a branch in Zurich, the company now reportedly serves over 200 institutional clients and has a trading volume in the billions. SCRYPT DIGITAL Investments AG received a portfolio manager license from the Swiss Financial Market Supervisory Authority(FINMA) in July 2023.

"The choice of SCRYPT as a partner for the launch of our cryptocurrency services was a strategic and natural decision," said Marcelo Sacomori, founder and CEO of Braza Bank. "The exceptional expertise in cryptocurrencies coupled with a robust, regulated infrastructure makes SCRYPT an invaluable partner for Braza Bank as we roll out these innovative services to our millions of customers."

"I am excited about the future of SCRYPT, especially the expansion into Latin America and doing business in the booming crypto market in this region," SCRYPT founder and CEO Norman Wooding is quoted as saying. "This capital injection puts us in a position to seize market opportunities with renewed vigor." ce/mm

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