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
Tokyo-based investment research group Fisco Corporation has announced the launch of a cryptocurrency fund. “It is being described as the first fund of its kind in Japan,” according to Nikkei.
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).