Bitcoin.com plans to set up a $ 200 million Bitcoin Cash investment fund next year. The fund aims to increase the adoption rate of bitcoin cash (BCH). It targets start-ups such as payment gateways and money transfer processors for investment.
21 November 2019, AtoZMarkets – Bitcoin.com, the company backed by investor Roger Ver, plans to create a $ 200 million investment fund to boost the adoption of bitcoin cash (BCH).
The fund is called the “BCH Ecosystem Investment Fund.” It will invest and incubate payment start-ups using the BCH and BCH blockchain. That is the fourth largest cryptocurrency in the world today. The fund targets companies such as payment gateways, fund transfer processors, and wallets, according to an announcement made on Wednesday.
“Bitcoin.com receives between 6 and 8 business plans every day from software entrepreneurs. They take advantage of the unique features of the Bitcoin Cash blockchain. The company now has the resources and team needed to support these BCH entrepreneurs. It will increase the value of their business, and spread adoption of bitcoin cash, “said Stefan Rust, CEO of Bitcoin.com. He took over the role of Roger Ver in August, then moved on to executive chairman.
Bitcoin Cash Investment Fund
The company did not finalize the details of the fund, but said it would allow other institutional investors to join. Projects seeking investment through the fund, will “very soon” submit their business plans to Bitcoin.com via a “dedicated homepage.”
Rust has identified up to 20 institutional investors who meet the “strict” due diligence requirements, according to the announcement. Bitcoin.com has stated that it will charge fees to help institutional investors manage the fund. In addition to fees are for accessing the underlying payment activities.
“There is so much infrastructure and businesses under construction in the Bitcoin Cash ecosystem every day. And Bitcoin.com will accelerate development with our $ 1 million ecosystem investment fund,” declared Ver.
Bitcoin.Com New Initiatives
Bitcoin.com has recently made some actions to develop the BCH ecosystem. Last month, the company acquired the Japanese start-up of the O3 Labs blockchain development to build mobile financial services applications using the BCH network. Rust said at the time that Bitcoin.com aims to give users “the ability to manage, grow and spend money. That will be without the need of traditional banks or financial intermediaries” via these applications.
Bitcoin.com also recently launched a cryptocurrency exchange and was also preparing to launch futures for Commodity Futures Trading Commission (CFTC)-regulated BCH exchange. In Wednesday’s announcement, the firm said the BCH futures contract could be launched by the first quarter of 2020.
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