New fund launched for developers to create new products for BCH holders to utilize
TOKYO, JAPAN, Nov 27, 2019 — Bitcoin.com announced last week that it plans to launch a $200 million BCH investment fund that will focus on payment related solutions, non custodial financial services and simple ledger protocol (“SLP”) using the Bitcoin Cash blockchain. The fund will invest in early and mid stage businesses and entrepreneurs like payment gateways, processors remittances, wallet and merchant acquirers. To lead the new BCH Ecosystem Investment Fund, Bitcoin.com has hired former brass from Nest to lead the operation.
The BCH Investment Fund will officially launch in early 2020, just as investment and interest in the payments industry reaches new highs. According to Sharespost, Payments: Star Of The FinTech World report, global payments revenues will grow at an annual rate of 7 percent year upon year, and will cross $2 trillion by end of 2021. Of the $2 trillion, mobile payment revenue will grow from 34% to 36% by 2021, driven by growth in developing nations in Asia and Latin America.
As part of this announcement, Bitcoin.com is also excited to announce the recent addition of Alyssa Aaron to the Bitcoin.com Team. Alyssa will fill the new role Head of BCH Ecosystem Fund, where she will help facilitate the new BCH Ecosystem and oversee its operations. Alyssa’s previous experience is primarily in VC and PE, and she was most recently with Nest where she was responsible for the identification and assessment of new investment opportunities. Prior to joining Nest, Alyssa worked at Conversus Capital, where she focused on evaluating private equity direct investments and secondaries, and at Bank of America Merrill Lynch in Chicago. She is a CFA® charterholder and received a BS in Finance and International Business from the Kelley School of Business at Indiana University.
Finer details of the BCH Ecosystem Investment Fund will be announced shortly while the framework for the fund has been established. The fund will also allow for other, outside institutional investors to join this opportunity and invest in the fund. Investors will then be presented with a portfolio of Bitcoin Cash payment, non-custodial financial services and SLP related businesses to invest in.
Bitcoin.com CEO Stefan Rust has been screening institutional investment companies and has identified up to 20 companies that “align with the Bitcoin.com vision and satisfy our stringent due diligence requirements.” Bitcoin.com would charge a fee helping institution investors manage the fund, on top of the fees to access the underlying payment businesses.
Bitcoin.com
receives between 6 to 8 business plans every day from software entrepreneurs leveraging the unique features and capabilities of the Bitcoin Cash blockchain. Bitcoin.com now has the resources and team to support these BCH entrepreneurs, grow the value of their
businesses and spread bitcoin cash adoption.
Bitcoin.com
Executive Chairman Roger Ver added, “There is so much great infrastructure and businesses being built in the Bitcoin Cash ecosystem every day. Bitcoin.com is going to accelerate the development with our 200 million-dollar ecosystem investment fund.”
About Bitcoin.com
Bitcoin.com is supercharged to change the world with Bitcoin Cash (BCH). Our suite of developer tools has been downloaded +36,000 times from over 100 countries. Our team is the heart and soul of the Bitcoin Cash industry. We’re committed to making BCH available to all people, whatever their age, gender, nationality or financial status.
For more information: visit https://www.bitcoin.com/
