Bitcoin.com recently announced its plans to roll out a Bitcoin Cash (BCH) investment fund worth $200 million.
The company’s executive chairman, Roger Ver, revealed the news during a Bitcoin Cash event held in London on Nov. 19. He also tweeted about it the following day.
Blockchain.com, one of the world’s largest crypto wallet firms, hosted the BCH meetup.
In its official announcement, Bitcoin.com stated that its Bitcoin Cash Ecosystem Fund would revolve on non-custodial financial services and payment solutions for BCH. Details about the fund haven’t been finalized yet, but institutional investors will have the chance to participate in its development. What is certain is that the BCH Ecosystem Investment Fund will invest in processors remittances, payment gateways, merchant, and wallet acquirers.
Interested parties will be provided with a portfolio of BCH payment-related firms they might be interested in investing in. A landing page dedicated to new projects and companies to submit their business proposals has even been launched.
Stefan Rust on the Topic
Stefan Rust, Bitcoin.com’s newest CEO, is said to have screened numerous investment companies and has singled out around 20 prospective institutional investors with the same goal and vision as the company.
Rust said the company is excited to launch its “$200 million ecosystem fund that will rapidly scale up” businesses focused on Bitcoin Cash. He also claims that they receive anywhere from six to eight business plans a day, from software mavericks and entrepreneurs utilizing the BCH blockchain’s distinct capabilities and features.
Rust also stated that Bitcoin.com now has the means and the human resources to support these crypto entrepreneurs, help grow the value of these businesses and further push for the adoption of bitcoin cash.
Bitcoin.com started as a website dedicated to covering BCH and BTC news. Now the company provides several Bitcoin and Bitcoin Cash-powered services, like crypto storage and trading. The people behind the website have been slowly integrating more service since Ver acquired the domain name in 2014.
The Bitcoin.com digital exchange was launched officially in September 2019. The platform allows clients to trade in different cryptocurrencies, including EOS, Litecoin (LTC), and Ripple’s XRP.
BCH Ecosystem Fund
Bitcoin.com’s BCH Ecosystem Fund is just the latest in a series of crypto-powered funds. Cryptocurrency bank Galaxy Digital recently launched two Bitcoin funds that target America’s “wealth,” or people who are between 50 and 80-years old. Meanwhile, Sam Cassat, the CSO of ConsenSys shared last week his intentions to raise $50 million for his investment company Aligned Capital’s first fund.