The provider of financial data japanese Fisco will launch a fund of crypto-currencies, with a value of more than 2.66 million dollars to invest in Bitcoin and other digital currencies this month. From Tokyo, Fisco – a company specialized in the search for information on stocks, currencies, bonds and commodities in Japan – is expected to open an investment fund specific to crypto-currencies.
According to a report in the Nikkei, the supplier will invest its own money in addition to other capital raised from third-party companies in FinTech are not quoted on the stock exchange. The objective of the company is to get a start-up fund of nearly 2.66 million of dollars.
It is good news that should delight more than one. Below are the details :
A first for Japan
The fund, first of its kind in Japan, will focus primarily on investments in the Bitcoin and other virtual currency. It should be launched before the end of the month of January. Fisco aims a target of a 20% annual return.
The fund will seek to achieve profit through arbitrage opportunities by examining the incremental price of crypto-currencies between the exchanges, national and foreign. Fisco has been a precursor in research and the adoption of the digital currency.
An initiative, following a law recognizing the Bitcoin as a legal tender
In April 2017, Japan has adopted a law recognizing the Bitcoin as a legal tender in the country. The investors said at the time expect that this digital currency was finally recognized as a financial product.
Source : Pixabay, Media Change
If the Bitcoin were to be regarded as a financial instrument, it may enhance the activity of Fisco. The latter could as well propose new financial offerings. Fisco is not the only one to consider the Bitcoin as a financial instrument. MUFG, the largest financial institution of Japan, is also preparing to launch a service aimed to secure Bitcoin users against the losses suffered during the exchange of crypto-currencies.
Source : NCC