Chinese conglomerate that listed among the world's largest gaming, tech, social media, venture capital firms and investment corporations Tencent Holdings Limited is planning to open a cryptocurrency-focused research arm, a local news outlet Ifeng News reports.
It's been reported that the arm is responsible for the overall advancement of digital currency research projects, follow up and implement the latest policies of relevant government departments, carry out digital currency-related research, and business model innovation and application scenario verification.
Liu Feng, Director of the Blockchain Technology Research and Application Research Center of Shanghai University of International Business and Economics claims that Tencent's presence will eventually bring a powerful amount of energy and give the market a boost.
Earlier iHodl reported that European Central Bank (ECB) board member Benoit Coeure said the bank is studying the option of introducing a digital currency.
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