Japanese financial information provider Fisco Corporation is planning to launch the first cryptocurrency fund in the country. The company is also planning to offer derivative products as well as several other crypto-related services, Nikkei Asian Review reported.
The fund will invest more than 300 million yen (~USD$2.67 million) in Bitcoin (TIKER: BTC.EXANTE) and other cryptocurrencies as early as this month.
In addition, Fisco looks to arbitrage the price differences of cryptocurrencies on domestic and international exchanges.
Fisco will invest its own money and raise capital from two other listed fintech companies. It will aim for investment returns of about 20% per year.
In August 2017 Fisco Cryptocurrency Exchange issued Japan’s first Bitcoin-denominated, unsecured corporate bond.