Digital asset bank Sygnum reported reaching profitability on Wednesday following a strong first-half performance.

Sygnum saw a two-fold increase in crypto spot trading, a 500% rise in crypto derivatives trading and more than a 360% increase in lending volumes in the first half of 2024 compared to the same period last year, according to a statement shared with The Block.

Crypto transfer volumes on Sygnum's institutional-grade platform increased substantially across each of its four core client segments: professional private investors, external asset managers and multi-family offices, crypto foundations and DLT companies, and funds and hedge funds, the firm said.

Sygnum’s “Staking-as-a-Service” offering also witnessed notable growth, with the percentage of ether staked by its clients …