Tokyo-based Fisco Launches Cryptocurrency Fund

The new fund is being described as the first of its kind in Japan
10 January 2018   737

Fisco, a Tokyo-based company that provides investment support services, announced that it will launch a fund of more than 300 million yen ($2.66 million) to invest in bitcoin and other cryptocurrencies as early as this month.

Fisco will invest its own money and raise capital from two other listed fintech companies, aiming for investment returns of about 20% per year.

In addition to investing directly in cryptocurrencies, the fund will seek to profit from price differentials among domestic and foreign cryptocurrency exchanges. It is being described as the first fund of its kind in Japan.

In August 2017 Fisco has issued Japan’s first bitcoin-denominated corporate bond to test the instrument’s potential to become a useful fundraising tool.

German Exchange to launch Bitcoin Products

Deutsche Boerse, the Frankfurt Stock Exchange holder, is deciding about the providing cryptocurrency products
24 May 2018   77

Reporting in London on Wednesday, at a significant event of the sphere, Jeffrey Tessler (the firm's chief of customers, products and core markets), declared: "We are deep at work with it." Nevertheless, any move into the crypto space from the stock exchange might not be forthcoming fast. When CME Group and Cboe Global Markets both started bitcoin futures trading last December, Tessler further claimed during the event that Deutsche Boerse is "not at the same stage." According to his point of view, the company is attempting to understand the volatility of the bitcoin market first and insuring clients and regulators are "in line" before stepping ahead with any offerings.

Whilst a move into offering bitcoin products is not definite, the exchange has already been active in the blockchain field. Deutsche Boerse unvealed details to CoinDesk about its plan to move the majority of its post-trade services to a blockchain last June. It affirmed at the time that it was interested in building a system, using Hyperledger's open-source Fabric protocol, in order to transfer securities and move commercial bank money, while still undertaking cross-jurisdictional compliance with regulators.

Also, as recently as March, the group declared it wish to deploy a platform for more operative securities lending using R3's Corda blockchain tech.