Fisco launches cryptocurrency and plans to develop more related products

nBankruptcy comment: Following the issuance of Japan’s first bitcoin bond, Fisco recently in cryptocurrency another new action, the introduction of cryptocurrency. At the same time, the company said it plans to develop more products and services related to cryptocurrencies, continue to promote its own virtual currency strategy, demonstrate its strong interest in this new field and its determination to achieve outstanding results in this regard.n
nTranslation: Inan
Fisco, a Tokyo-based investment research agency, has announced the launch of a cryptocurrency fund, which Japan’s first such fund will report, according to Nikkei.n
Reports said the fund will invest more than 300 million yen (about 2.67 million U.S. dollars) in bitcoin and other cryptocurrencies this month. In addition, it seeks to profit from the price differential between domestic and foreign encrypted currency exchanges. Report pointed out:n
n”Fisco will invest its own funds and raise funds from two other listed financial technology companies with the goal of getting about 20% of annual investment return.”n
nFounded in 1995 as a public company on Jasdaq, the company also operates the Fisco Cryptocurrency Exchange, one of the first 11 exchanges to receive a FSA license in September last year. The platform currently supports yen trading on Bitcoin, MONA and Bitcoin.n

Last August, Fisco Cryptocurrency Exchange issued Japan’s first unsecured corporate bond denominated in bitcoin. The company said at the time:n
n”This bond offers the holder 3% coupon and will return the holder’s original 200 bitcoins on the due date of August 10, 2022.”n
nAccording to Fisco’s Investor Relations report late2017, the company has allocated management resources for some cryptocurrency-related projects. The report shows that in addition to the issuance of bitcoin bonds last year, Fisco also “set up a cryptocurrency management unit to operate the virtual currency fund.” In addition, it formed a holding company called “Fisco Digital Asset Group” in October last year. The company said,n
n”We will capitalize on Fisco’s expertise in financial markets and continue to advance our unique virtual currency strategy.It is our policy to accelerate the development and deployment of a variety of products and services related to the virtual currency.”n
nFisco also plans to develop more crypto currency trading products, including “financial derivatives using virtual currencies, B2B services to issue virtual currency corporate bonds and B2C services such as crowdfunding.”n

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