#CryptoCorner: New Hong Kong #Crypto Fund Targets $100M in Total Assets, U.S. Stimulus Cheques May be Going to Crypto and Some Crypto ATMs Experience Traffic Increase
#CryptoCorner: New
Hong Kong #Crypto Fund Targets $100M in Total Assets, U.S. Stimulus Cheques May
be Going to Crypto and Some Crypto ATMs Experience Traffic Increase
Point Roberts, WA, Delta BC April 20, 2020
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Calibra to Create 50 Jobs in Ireland This Year, New
Hong Kong Crypto Fund Targets $100M in Total Assets, U.S. Stimulus Cheques May
be Going to Crypto and Some Crypto ATMs Experience Traffic Increase
Stocks discussed: (NasdaqGS:FB)
Calibra, the
payments subsidiary of Facebook (NasdaqGS:FB), is creating 50 new jobs by the
end of this year in Ireland, according to a report from The
Irish Times.
Calibra, which is tasked with creating the digital wallet for Facebook’s Libra
digital currency project, currently has a small presence in the country. Laura
Morgan Walsh, the company’s head of operations, explained the move:
“During this time of global uncertainty, we’re
continuing to invest in our team located in Dublin. We’re actively hiring
experts in fraud, compliance, workforce management and customer care to expand
our operations team supporting the Calibra wallet.”
Bloomberg reports that
Arrano Capital, the blockchain arm of Hong Kong asset manager Venture Smart
Asia Ltd., has met licensing conditions for the Securities and Futures
Commission (SFC) to “deal in virtual assets.” According to Arrano Capital’s
Chief Investment Officer Avaneesh Acquilla, the firm aims to “surpass $100
million in total assets under management through a fund tracking Bitcoin prices
within the first year.” Acquilla said:
“We decided to launch this fund to address market
demand from professional investors who are increasingly focused on Bitcoin as
an alternative store of value. Ultimately for Bitcoin to be widely accepted and
for people to trust it, there needs to be regulation.”
Coinbase CEO Brian
Armstrong tweeted a graph that
seemed to show a spike in purchases and deposits of around $1,200 – which is
the amount included in the U.S. government-issued stimulus cheques – last week.
About 80 million U.S. citizens are believed to have received such a cheque, and
Armstrong’s tweet seems to show that at least some of them are being used to
invest in an alternate currency.
CoinDesk reports that some
crypto ATMs are claiming an increase in transactions, even while much of the
U.S. is under shelter-in-place rulings and discouraged from leaving the home
for non-essential business. Marc Grens, co-founder of crypto ATM operator
DigitalMint, told CoinDesk in an email:
“Even during a global pandemic, and perhaps more so,
Bitcoin and Bitcoin point-of-sale services meet our customers’ essential needs
in participating in this next-generation of banking, remittance, and
e-commerce.”
Sam
Mowers, Investorideas
For investors following the sector Investor Ideas has a
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