• Syz Bank, a Swiss banking giant, is partnering with CMCC Global to launch a crypto fund worth $50 million.
• The fund, called SyzCrest Digital, will be invested in crypto-centric hedge funds and is registered in the Cayman Islands.
• Syz Bank has made several other crypto-friendly moves, including launching Syz Crypto and hiring Richard Byworth as its managing partner.
Syz Bank Partners With CMCC Global to Launch 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 registered in the Cayman Islands.
Syz Bank’s Crypto-Friendly Moves
Syz Bank has been actively making crypto-friendly moves over the past year. In December 2022, the bank launched Syz Crypto to provide cryptocurrency custody and trading services to clients from Switzerland and other countries. Additionally, they have hired Richard Byworth as its managing partner.
Hong Kong’s Regulations of Cryptocurrency
The announcement of the partnership between Syz Bank and CMCC Global comes at a time when Hong Kong has been taking significant steps towards regulating the crypto ecosystem. This partnership will help increase their presence in this industry and provide exposure to various digital assets.
Syz Bank CEO’s Beliefs On Cryptocurrency
Yvan Gaillard, CEO of Syz Bank believes that Bitcoin and digital assets are here to stay. He wants his clients to have access to these assets in a safe and secure way.