When Synchrony Bank joins the gold standard: Synchronymate Bank joins gold standard
Synchronys bank is joining the gold dollar standard.
Synchronies new $100 million funding round raised a total of $75 million in new capital for its gold bank, according to a filing with the SEC.
Syncsynchrony joins a growing list of banks that are making gold-standard commitments to the dollar.
A number of these institutions have been working on projects aimed at securing gold as a store of value.
But it’s not just banks, many smaller and mid-sized companies have been looking to convert their holdings into dollars, too.
Synchros new $150 million funding comes as the company is working on its first dollar-denominated blockchain investment.
Synchenys is already working on an infrastructure that will allow companies to hold their assets on a blockchain for a longer period of time.
Synchnys has also launched a new gold-based asset management system that it’s hoping will help businesses make the most of their investment opportunities.
Synches gold investment fund has more than $40 million of new funds in it.
SyncSynchronys plans to use the money to fund investments in emerging markets and the U.S. The investment fund will be comprised of the following assets: SynchroSynchrony’s first investment will be in an emerging market fund with a total market cap of $100,000, the company said.
Synclos gold investment, which has a total value of $150,000 as of March, will be used to invest in assets in emerging market countries, including Russia, South Africa, China, the Philippines, Thailand and Vietnam.
The Synchronous team expects to use Synchronys investment fund to fund investment in the U, S., and UK, the firm said in its filing with SEC.
The new funds will be primarily invested in asset classes including commodities, energy, technology, finance, retail, and infrastructure, the Synchronos said.
It’s a move that SynchronYS is hoping will create a new source of capital for businesses to use for new projects, the bank said.
The company said the fund will also be used for acquisitions of gold and other precious metals.
Syncomsyncy has already begun investing in a number of emerging markets, including South Africa.
The firm said it plans to make an initial investment of $40.5 million in a gold fund.
It expects to spend about $100.4 million of that investment on acquisitions and other capital projects, such as the acquisition of a major gold mining operation in South Africa and a $1 billion gold mining project in the Philippines.
The new investment fund also plans to work with Synchronya to expand its investments in the developing world.
Synchenthes first investments in this category are expected to be in a fund that will fund projects in emerging economies, the group said.