• Syz Bank, a Swiss banking giant, is partnering with CMCC Global to launch a crypto fund worth $50 million.
• The fund will be invested in crypto-centric hedge funds and is registered in the Cayman Islands.
• Syz Bank has been making several crypto-friendly moves, such as launching Syz Crypto and hiring Richard Byworth as its managing partner.
Syz Bank Partners With CMCC Global for Crypto Fund
Syz Bank, a prominent Swiss bank, is partnering with CMCC Global to launch a crypto fund worth at least $50 million. The fund, called SyzCrest Digital, will be invested in crypto-centric hedge funds and is aiming to raise $300 million after its launch. The fund is registered in the Cayman Islands and will be available starting on July 1st of 2023.
Syz Bank’s Crypto Friendly Moves
In an effort to expand its presence in the cryptocurrency industry, Syz Bank has made several crypto-friendly moves over the past year. In December of 2022 they launched their own cryptocurrency custody and trading service called Syz Crypto which currently offers access to four major cryptocurrencies: Bitcoin, Etherium, Polygon, and Chainlink. They also hired Richard Byworth as their managing partner in October of 2022 to help build their competencies and offerings within this space.
Hong Kong Regulating Cryptocurrency Ecosystem
The partnership between Syz Bank and CMCC Global comes at a time when Hong Kong has taken significant steps towards regulating the cryptocurrency ecosystem. This collaboration will help them gain exposure to various digital assets while continuing to ensure safety for their clients as they move into this new world of finance.
Yvan Gaillard Believes Bitcoin & Digital Assets are Here To Stay
The CEO of Syz Bank Yvan Gaillard believes that both Bitcoin and digital assets are here to stay which is why his company wants to provide customers with a secure way of accessing them without sacrificing security or peace of mind.
Conclusion
This partnership between Syz Bank and CMCC Global marks another milestone in the journey towards mainstream adoption of cryptocurrencies by financial institutions around the world. It demonstrates how far we have come since Bitcoin’s inception just under two decades ago and shows that these digital assets are here for good!