The major United States digital asset company Morgan Creek Digital, managed to obtain $40 million in funding from investors where the some of the biggest pension funds platforms also took part according to the company’s statement released today about which we read more about in the latest crypto news.
Morgan Creek Digital launched a Digital Asset Index Fund last year in August and today has sealed the funding from two benefit plans from Fairfax County Retirement Systems.
The new fund is named Morgan Creek Blockchain Opportunities Fund and will mostly focus on investing in the industry of digital assets. The original bar for the investment was set at $25 million but increased massively due to the high interest according to the reports by the company’s CEO Anthony Pompliano.
The agreement between the two pension funds comes as a result when at the start of this year, Morgan Creek Digital CEO Pompliano, wrote a blog post about how useful Bitcoin can be in the pension sector. He stated:
“The fundraising for this fund didn’t happen overnight, so it definitely took place before that article was written.’’
There aren’t too many information in the public about the full investor deck. Bloomberg reports show that the chief investment officer of the Fairfax funds shows the same belief in Bitcoin as Pompliano who claimed:
“It will take time for pension funds to get comfortable with investing in Bitcoin. We need to educate multiple stakeholders and demystify this nascent industry. When one makes the decision, it will create a cascading effect that leads to hundreds of them jumping in.”
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“a) exchange between crypto assets, b) transfer of virtual assets, and c) participation in and provision of financial services related to an issuer’s offer and/or sale of a crypto asset.”Cyprus is one of the seven EU member countries that have already released a declaration that aims to promote the use of DLT in the region. Last fall, the national investment partner in the country, Invest Cyprus, signed a Memorandum of Understanding with VeChain Foundation from Singapore in order to work on multiple national level investment strategies that will be blockchain based.
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“Blockchain technology has established a highly mutual trust data sharing mechanism among tax authorities, invoice service providers, taxpayers and other parties. This is a major reason for the tax authorities to take a new step in deepening the [technological] reform [by] the distribution services.”Back in December 2018, one of the bigger cities in the Guangdong province-Shenzhen announced its success story of how blockchain technology helped with the tax invoices via the messaging app WEChat payment platform. Also, last year in November, the capital of the Guangdong and one of the most developed economic zones in China, Guangzhou, was chosen as a headquarters city for the new blockchain alliance. The alliance involves 54 different companies and is promoting blockchain technology in finances and trading. Countries around the world are opting for blockchain-based tax solutions because of the higher efficiency and transparency.
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