Japan's Fisco Launching Cryptocurrency Fund ' Derivatives Products to Follow

Following the issuance of its bitcoin bond, Japanese investment research group Fisco Corporation is now launching a cryptocurrency fund. The company is also planning to offer derivative products as well as several other crypto-related services.

Fisco Launching Crypto Fund

The fund will invest more than 300 million yen (~USD$2.67 million) in bitcoin and other cryptocurrencies as early as this month, the publication described. In addition, it will seek to profit from price differentials among domestic and foreign cryptocurrency exchanges. The news outlet added:

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

Founded in 1995, the Jasdaq-listed company operates a crypto exchange called Fisco Cryptocurrency Exchange which became one of the first 11 exchanges to be granted a license by the Japanese Financial Services Agency (FSA) in September of last year. The platform currently supports yen trading of bitcoin (BTC), monacoin (MONA), and bitcoin cash (BCH).

From Bitcoin Bond to Crypto Fund and More

According to Fisco’s 2017 year-end Investor Relations report, the company’s management resources have been allocated to a number of crypto-related projects. In addition to issuing the aforementioned bitcoin bond, last year Fisco 'established a cryptocurrency fund management [division] for the purpose of operating a virtual currency fund,” the report shows. Furthermore, a holding company called Fisco Digital Asset Group was created in October of last year. The company elaborated:

We will continue to promote our unique virtual currency strategy that takes advantage of the high expertise of the financial market of the Fisco Group. It is a policy to accelerate development and deployment of various products and services related to virtual currency.

Fisco also plans to expand its cryptocurrency exchange offerings to include 'financial derivatives products using virtual currency, B2B services such as issuing virtual currency corporate bonds, and B2C services such as crowdfunding,' the company’s report elaborated.

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The post Japan’s Fisco Launching Cryptocurrency Fund – Derivatives Products to Follow appeared first on Bitcoin News.


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