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Why Did a Crypto Hedge Fund Turn to Swiss Banks?

The suspension of Silvergate's cryptocurrency payments system is seeing digital assets managers scrambling to find new banking partners.

Photo by Tech Daily / Unsplash /Blockhead

With US$400 million in assets under management, a crypto fund manager is looking to Swiss banks to fill the vacuum left by the collapse of a crucial payments network run by struggling US lender Silvergate Capital.

Silvergate's 24/7/365 real-time network was utilised by Digital Asset Management to transfer money to and from Coinbase Global Inc.

But, major exchanges like Coinbase, Crypto.com, and Gemini no longer support Silvergate.

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