Bitcoin Cash News Today – Headlines for November 21

  • Bitcoin.com sets up a $200M investment fund to boost the adoption of BCH
  • Bitcoin.com Takes More Steps in Boosting the Growth of the BCH Ecosystem

Bitcoin Cash News Today – The firm of a digital currency investor Roger Ver – Bitcoin.com – just revealed its plans to set up an investment fund worth $200 million to boost the adoption of Bitcoin Cash (BCH). The firm dubbed the fund “BCH Ecosystem Investment Fund.” The fund will incubate and invest in payment-related startups that use the blockchain of Bitcoin Cash and the native currency of the network.

Bitcoin.com Set to Boost the Adoption of BCH

The $200 million investment fund is targeting businesses such as payment gateways, wallets, and remittance processors, according to the announcement. The CEO of Bitcoin.com – Stefan Rust – said:

Bitcoin.com receives between six to eight business plans every day from software entrepreneurs that are leveraging the unique capabilities and features of the Bitcoin Cash blockchain. Bitcoin.com now has the team and resources to support these Bitcoin Cash entrepreneurs, grow the value of their business and spread the adoption of Bitcoin Cash.”

Bitcoin.com Is Yet to Finalize the Details of the Fund

There are no concrete details about the fund yet, as Bitcoin.com is yet to finalize details of the fund. However, it would allow other institutional investors to join it. Very soon, projects that want to get investment through the fund would be able to submit their business plans to the firm through a dedicated landing page.

Bitcoin Cash (BCH) Price Today – BCH / USD

NamePrice
bitcoin
Bitcoin
$11,744.69
bitcoin-cash
Bitcoin Cash
$246.42

The CEO of the firm has identified up to twenty institutional investors who satisfy “stringent” due diligence requirements, according to the announcement. The firm also said that it would charge a fee helping institutional investors manage the fund in addition to the fees to access the underlying payment businesses. Roger Ver said:

There is so much great infrastructure and businesses being built in the ecosystem of Bitcoin Cash every day. Bitcoin.com is going to boost the development with our million-dollar ecosystem investment fund.”

Bitcoin.com Takes More Steps in Boosting the Growth of the BCH Ecosystem

Recently, Bitcoin.com has taken a series of initiatives to boost the growth of the Bitcoin Cash ecosystem. Last month, Bitcoin.com acquired O3 Labs – a Japanese blockchain development startup – to develop financial services mobile applications using the network of BCH. At the time of the acquisition, Rust said that Bitcoin.com aims to give users the ability to grow, manage, and spend money through these applications, without the need for financial intermediaries or traditional banks.

In addition, the firm recently launched a digital currency trading platform and was getting ready to launch a BCH futures contract on a CFTC-regulated trading platform.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.