Tech
SCRYPT Raises $5 Million to Expand Cryptocurrency Services
Financial services provider for cryptocurrencies WRITING announced that it had raised $5 million. The company is also pleased to announce that it has doubled its customer base and seen its trading volume increase 18 times year over year.
Founded in 2020, the Swiss company now offers a suite of crypto services, including trading, custody and staking.
SCRYPT serves over 200 institutional clients and recently received Swiss regulatory approval to launch asset management solutions, with SCRYPT Digital Investments AG receiving a portfolio manager license from the Swiss Financial Market Supervisory Authority (FINMA) in July 2023.
Braza Bank led the financing, with participation from venture capital firms including Funfair Ventures, Cabrit Capital and Atlantic Labs.
Norman Wooding, founder and CEO of SCRYPT, says:
“We are pleased to confirm that 2024 has started well for SCRYPT, with the closing of a strategic investment by Braza Bank and significant growth across all business verticals.
I am excited for the future of SCRYPT, especially as we expand into LATAM and take advantage of the region’s thriving cryptocurrency 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 experience in the crypto asset sector, combined with their robust and regulated infrastructure, makes SCRYPT 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 expand operations and enhance its product offerings.
Main image: SCRYPT. Photo: uncredited.