Three popular altcoins and Bitcoin (BTC) have been the subject of a significant partnership recently. The partnership of leading Switzerland-based bank Syz Bank with CMCC Global to launch a multimillion-dollar cryptocurrency fund drew attention. This development is especially important for Chainlink, Polygon and Ethereum. Here are the details…
Bitcoin and altcoin partnership established between Syz Bank and CMCC
Syz Bank, a leading 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 aims to raise $300 million after its launch. The fund is registered in the Cayman Islands and will be available from 1 July 2023. The announcement of the partnership comes at a time when Hong Kong is taking important steps towards regulating its crypto ecosystem. The partnership with CMCC Global will help Syz Bank expand its presence in the crypto sector and gain exposure to a variety of crypto assets.
As we have reported as Kriptokoin.com, Syz Bank has actively made crypto-friendly moves over the past year. In December 2022, the bank launched Syz Crypto to offer crypto custody and trading services to its customers in Switzerland and other countries. Syz Crypto; It offers access to four major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), and Chainlink (LINK).
Institutional interest in cryptocurrencies remains high
In October 2022, Syz Bank reaffirmed its commitment to the crypto industry by hiring Richard Byworth as its managing partner. Byworth’s experience in the crypto space will help Syz Bank develop its capabilities and expand its offerings in this space. Syz Bank CEO Yvan Gaillard believes that Bitcoin and altcoins are permanent and the bank wants to provide its customers with a safe and secure way to access them.
Despite the market crash, Syz Bank remains committed to its crypto plans. The bank’s CEO states that even after the turbulent market, institutional interest in cryptoassets remains strong. The launch of SyzCrest Digital with CMCC Global is another example of Syz Bank’s commitment and growth potential to the crypto industry. Syz Bank’s partnership with CMCC Global and the launch of SyzCrest Digital may demonstrate the bank’s belief in the potential of crypto assets and its commitment to expanding its offerings in the crypto industry. With the launch of SyzCrest Digital, investors will have another avenue to invest in crypto-centric hedge funds, and Syz Bank will continue to expand its presence in the growing crypto-asset space.
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