Billion-Dollar Bank Invests in Bitcoin and Ethereum

• Syz Bank, a prominent Swiss bank, is partnering with CMCC Global to launch a crypto fund worth at least $50 million.
• Syz Bank has been actively making crypto-friendly moves over the past year, including the launch of Syz Crypto and the hiring of Richard Byworth as its managing partner.
• The partnership with CMCC Global will help Syz Bank expand its presence in the crypto industry and gain exposure to various digital assets.

Syz Bank Partners with CMCC Global

Syz Bank, a prominent Swiss banking giant, is partnering with CMCC Global to launch SyzCrest Digital, a crypto fund worth $50 million registered in the Cayman Islands.

Syz Crypto Launched

In December 2022, Syz Bank launched Syz Crypto to provide cryptocurrency custody and trading services to clients from Switzerland and other countries. This service offers access to four major cryptocurrencies: Bitcoin, Ether, Polygon and Chainlink.

Richard Byworth Hired by Syz Bank

In October 2022, Richard Byworth was hired as the Managing Partner for Syz Bank – further demonstrating their commitment towards the crypto industry. Byworth’s experience in this space will aid the bank in building competencies and expanding offerings related to digital assets.

Hong Kong Regulatory Steps Towards Crypto Ecosystem

The announcement of this partnership comes at a time when Hong Kong has been taking significant steps towards regulating their crypto ecosystem by introducing new laws and regulations.

Syz CEO Gaillard’s Statement on Cryptocurrency

Yvan Gaillard, CEO of Syz Bank believes that Bitcoin and digital assets are here to stay and wants his customers to have access them safely through his platform.