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Bitcoin.com has announced a $200 million investment fund in order to foster the bitcoin cash (BCH) ecosystem.
Executive Chairman Roger Ver made the announcement at a Bitcoin Cash meetup in London this week hosted by Blockchain.com.
“There is so much great infrastructure and businesses being built in the Bitcoin Cash ecosystem every day. Bitcoin.com is going to accelerate the development with our million-dollar ecosystem investment fund,” Ver said.
The BCH Ecosystem Investment Fund, slated to launch in 2020, will focus on payment solutions and non-custodial financial services for BCH. It will invest businesses such as payment gateways, processors remittances, wallet and merchant acquirers, Bitcoin.com said.
“A dedicated landing page for projects to submit their business plans will be launched very soon,” it added.
While the details of the fund have not been yet finalized, Bitcoin.com said that it will allow other institutional investors to join the fund. In fact, CEO Stefan Rust has identified up to 20 institutional investment companies that align with Bitcoin.com’s vision and satisfy its due diligence requirements.
As per the report, Bitcoin.com would charge a fee helping institutional investors with the management of the fund, in addition to the fees to access the underlying payment businesses.
“We are super excited to launch the $200 million ecosystem fund that will rapidly scale up Bitcoin Cash focused businesses,” Rust said. “Bitcoin.com receives between 6 to 8 business plans every day from software entrepreneurs leveraging the unique features and capabilities of the Bitcoin Cash blockchain. Bitcoin.com now has the resources and team to support these BCH entrepreneurs, grow the value of their businesses and spread bitcoin cash adoption.”
Just recently, electronics giant HTC partnered with Bitcoin.com and added native bitcoin cash support to its flagship smartphone, Exodus 1. Bitcoin.com revealed that it also in talks about a listing a bitcoin cash futures contract on a new exchange by the first quarter of 2020 with approval from the U.S. CFTC.
