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Blockstream to Launch 3 Funds After Securing Multi-Billion Dollar Investment
The funds, which will include two focused on crypto lending, will go live in April, people familiar with the matter told Bloomberg.
What to know:
- Blockstream has raised several billion dollars to launch three investment funds, including two focused on crypto lending, Bloomberg reported.
- The funds, set to launch in April, will offer Bitcoin-backed loans, crypto borrowing with U.S. dollars as collateral, and hedge fund strategies.
- The move comes as Blockstream expands in Japan, aiming to advance Bitcoin Layer-2 solutions, self-custody, and real-world asset tokenization.
Bitcoin development firm Blockstream is launching three investment funds, including two focused on crypto lending, the company announced Tuesday.
STORY CONTINUES BELOW
The crypto company co-founded by legendary bitcoin (BTC) developer Adam Back plans to launch a fund that underwrites Bitcoin-backed loans and one that allows for crypto borrowing with U.S. dollars as collateral while a third fund would deploy hedge fund strategies, according to a tweet.
Bloomberg reported earlier that the company had secured several billion dollars in funding to launch these funds, citing anonymous sources.
The crypto lending business had been hit hard after the collapse of former crypto exchange FTX, whose falsified balance sheets and in the end, inability to pay back money lent to them, resulted in several bankruptcies of then-reputable crypto lenders.
The three funds will go live in April with additional external capital starting to be accepted in July. The two lending funds will be available for borrowing.
Blockstream recently opened a new office in Tokyo as it plans to drive adoption of Bitcoin Layer-2 and self custody technologies as well as the tokenization of real world assets (RWA) in Japan.
Helene Braun
Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
