Famous Investment Company Announced It Will Allocate More Resources To Cryptocurrency!

According to the information received, the Singaporean Whampoa Group, with cryptocurrencies He plans to create a $50 million hedge fund.

Singaporean Investment Firm Whampoa Group Is Creating Funds For Cryptocurrencies

Cryptocurrency-focused venture capital Whampoa Group aims to allocate $100 million to crypto investments.

The founders of Whampoa Group come from well-established families in Singapore.

The company draws attention as an important investment power.

This company’s partners, Amy Lee and Lee Han Shih, have strong relationships with the founding president of Singapore and the families who founded the Bank for Southeast Asia (OCBC).

Shawn Chan, CEO of Whampoa, said in an interview with Reuters that the firm will invest in and develop web3 start-ups through equity and crypto investments.

According to a report in Bloomberg, Whampoa Group plans to shift its asset management business to digital assets.

To that end, the company will create a crypto-focused $50 million hedge fund, raising funds from its clients.

Company CEO Shawn Chan told Bloomberg that in order not to be affected by the volatility of cryptocurrencies, the Whampoa hedge fund will be independent of the market and first of all. bitcoin and Ethereum He said he was going to trade.

Singapore is at the forefront of licensing and regulation in the crypto industry.

Last month, the Monetary Authority of Singapore reported that they are interested in attracting major players of the crypto industry to Singapore, which can add value to the digital asset ecosystem.

However, at the same time, the institution stated that it is considering introducing stricter rules for individual users in the crypto market.

*Not investment advice.