Switzerland-based crypto service provider SCRYPT has raised USD 5 million in funding to accelerate growth. SCRYPT’s funding round was led by Braza Bank with additional participation from venture capital firms including Funfair Ventures, Cabrit Capital, and Atlantic Labs.

The company also announced it has doubled its client book and its trading volume increased 18 times year on year. Founded in 2020 by entrepreneurs Norman Wooding and Sylvan Martin, SCRYPT has rapidly evolved from a startup to a prominent player in the Swiss fintech sector. Securing billions in trading volume, the company now offers a comprehensive 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 license from the Swiss Financial Market Supervisory Authority (FINMA) in July of 2023. Officials from SCRYPT said they are happy 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. They are excited for SCRYPT’s future, especially as they expand into LATAM and capitalise on the region's booming crypto market.

The participation of Braza Bank, a leader in FX and cross-border payments, underscores the strength of their partnership and the increasing adoption of crypto by institutions. This capital injection the crypto service provider to seize market opportunities with renewed vigour and continue building on recent success. This funding round marks a pivotal moment for the company and comes at a time when they have more than doubled their team and operational capacity.

What does SCRYPT do? SCRYPT is a premier Swiss licenced financial service provider with a focus on institutional-grade crypto asset services. It empowers institutions and Web3 companies with comprehensive access to the crypto asset landscape. .