Banque Syz, a Switzerland-based private bank under the multi-billion dollar Syz Group is joining forces with Hong Kong-based venture capital firm CMCC Global to launch a new crypto fund, SyzCrest Digital. Scheduled to go live on July 1, the fund is estimated to raise anywhere between $50 million to $300 million in investments. These funds will be used to invest in crypto-focused hedge funds located in the Cayman Islands, with CMCC Global's Willy Woo as one of the members in the investment committee.

It's no secret that Switzerland is a crypto-friendly jurisdiction, with many businesses and investors flocking there as the US regulatory environment remains hostile to most exchanges and web3 market participants. The banking exodus has already begun as popular US banks like Silvegate Capital, Silicon Valley Bank and others who have ended operations or stops offering banking services to crypto businesses.

All of this signals that crypto assets have quickly gone from being a fringe trend to a major force in global finance. And in that regard, Bank Syz's new crypto fund is sure to be a success, providing investors with access to a wider variety of products to increase their crypto portfolio.

Bank Syz's crypto fund underscores a larger trend of financial institutions being more open and embracing digital and virtual currencies as part of their investments. This new fund is a testament that Bank Syz truly understands and sees the potential in this as well as values the trust and security of their customers. It's also a good sign that even with the recent bear market, institutions are still pressing on with their plans to increase and diversify their cryptocurrency-related investments.



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