Sign Raises $25.5M for Sovereign Blockchain Infrastructure
Sign, a blockchain infrastructure developer, has raised $25.5 million in a funding round led by YZi Labs (formerly Binance’s venture arm) and IDG Capital. This brings Sign’s total funding to over $55 million. The funds will expand its technology team with experts in Hyperledger Fabric, zero-knowledge proofs and interoperability. They will also support the build-out of sovereign blockchain infrastructure and digital identity authentication across national payment systems.
Sign aims to serve 50 million users in its first year by bridging traditional finance with decentralized networks on the BNB Chain ecosystem. Established in 2021, Sign already integrates with Singapore’s Singpass under the Electronic Transactions Act. The company is working on partnerships with governments in Thailand, South Korea, Central Asia and the Middle East.
Led by CEO Xin Yan and CTO Jack Xu, Sign’s team includes experts from Harvard, Cornell, Columbia, UC Berkeley and USC. Prior backers include Sequoia Capital, Circle and Amber. Sign has also launched a buyback program for its native SIGN token to strengthen token value.
This funding round and token buyback are likely to boost market confidence in Sign’s sovereign blockchain infrastructure projects. Traders should watch for potential price movements in SIGN and broader blockchain infrastructure tokens.
Bullish
The $25.5M funding led by a Binance-backed arm and strategic investors signals strong institutional support for Sign’s sovereign blockchain infrastructure. Expansion of government partnerships and a SIGN token buyback boost demand expectations. In the short term, the buyback and positive sentiment are likely to trigger a price uptick in SIGN. Over the long term, deeper integration with national systems and growth across key markets should bolster token fundamentals and sustain bullish momentum.