#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 -  Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .

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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

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