Running a trading platform for crypto assets seems like a lot of money to shed. Today, Binance, the world’s largest trading crypto-exchange based in Hong Kong, has announced plans to invest a whopping $ 1 billion in crypto and blockchain startups. It is to be expected that these investments are not made primarily with fiat money, but with Binance coins. This has issued Binance itself and currently have a market capitalization of about 1.6 billion US dollars.
The initiative that sets Binance pursues several strategies. The Community Influence fund is designed to invest directly in crypto startups, as well as to participate in other funds active in the industry. Finally, there should be an “Ecosystem Fund”. How much capital is being taken into hand is currently not public, but more information will follow soon.
Exciting also for Europe
Initial investments made by Binance have also been publicized. As reported, around 30 million dollars were invested in the startup MobileCoin. The new project by Moxie Marlinspike, founder of the encrypted messaging app Signal, has set itself the goal of designing digital money that makes it as easy as possible to pay via smartphone. Also invested in Dache Chain, a Chinese startup that plans a blockchain-based travel broker similar to Uber. Behind Dache Chain is founder Chen Weixing, who previously founded Uber rival Kuaidi Dache (today better known as Didi Chuxing).
For Europe, Binance could become an important company. The Hong Kong-based Exchange is considering relocating its headquarters to Malta after being banned from operating in Japan. The Mediterranean island is also an option for OKEx, the Viennese startup Herosphere or the Graz Blockchain project Artis – all see attractive legal framework conditions in Malta in order to be able to offer Blockchain-based services throughout Europe with a license.
TheBitcoinNews.com – Bitcoin News source since 2012
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored or guest posts, articles and PRs are NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise