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Aleksey Muratov: In China financial technology fund is established which invests in blockchain.

A consortium of Chinese state and private companies created investment fintech fund with a budget of $ 1.44 billion. It was announced by Chairman of the Board of the International Public Movement Change the World Together Aleksey Muratov.

As Chairman of the Board of CWT noted, the fund was named Asia FinTech Merger and Acquisition Fund of Funds. "The shareholders of the Chinese fintech fund became companies such as Credit China FinTech Holding, Shanghai Xinhua Distribution Group, China Huarong International and eight other large companies," Aleksey Muratov said.

According to him, investments will be made in areas such as big data, artificial intelligence, mobile payments and bloсkchain technology. "The opening of this fund is another sign of China's growing status in the global market of fintech. Thus, in the period from July 2015 to July 2016 the volume of Chinese investments in fintech increased by $8.8 billion," Aleksey Muratov said.

He also reminded that in the beginning of December the Chinese investment company Huiyin Group announced the opening of a venture fund Huiyin Blockchain Ventures with a capital of $20 million. "The potential partners of fund will become companies developing infrastructure blockchain projects and cases of technology application.During 2017 the fund management will be engaged in the selection of projects which will be invested means in," Aleksey Muratov said.

Source: CWT News

  • January 4, 2017 6:19 PM MSK