The Launch Of The First Investment Fund In Japan To Invest In Bitcoin And Other Digital Currencies
will be provider of financial information " Fisco " Japan 's launch of an investment fund for digital currencies worth more than 300 million yen (2.66 million dollars) to invest in bitcoin and other digital currencies this month. Tokyo- based Fisco, which specializes in research and information covering stocks, foreign exchanges, bonds and commodities in Japan and abroad, is set to launch a digital operations fund. According to the Nikkei report , the information provider will invest its own funds from raising capital from two unnamed financial technology companies to launch more than300 million yen (about $ 2.66 million).The first fund of its kind in Japan will focus on investments in Bitcoin and other digital currencies, due to be launched before the end of January. In order to achieve the objective of collecting 20% of the Fund's investment returns each year. In addition, the Fund will seek to achieve profits through arbitrage opportunities resulting from price differentials in digital currencies between domestic and foreign exchanges.
As was the Fisco main engine in the early search and adoption of digital currencies, in earlier August2017 unit information provider of digital currency quoted debt in three years, worth 200 Bitcoin (about800,000 dollars at the time), to another company belonging to the Group Fisco. It also revealedMasayuki Tashiro chief executive of Fisco that was intended to sell digital currency debt is to explore thepotential of Alpetkoan bonds as a tool for fundraising. The deal, believed to be the first of its kind in the country, followed legislation in April that effectively recognized bitcoin as a legal means of payment in the country. Tashiro said at the time:
"We expect that the currency of the Bitcoin will eventually be recognized as a financial product"
If Bitcoin is listed as a financial instrument under local laws, this will enhance Fisco's business with new financial offerings. Tashiro also added :
"If we play a role in the organization, we will be able to raise money through fees imposed"
On the other hand, Fisco is not alone , which has forecast upward for Bitcoin as a financial tool in Japan.Where MUFG, the largest financial institution in Japan, is poised to launch a service to secure Bitcoin receivables against losses suffered by digital currency platforms. Mitsubishi UFJ Trust offers the group's trust fund a patent application that is initially targeted in April 2018. The Japanese financial regulator recognizes the currency of the Bitcoin and other digital currencies as similar financial assets for securities and real estate that can be placed and secured.