South Korea-based online brokerage firm Kiwoom Securities, Singapore-based cryptocurrency exchange Huobi and China-based investment firm NewMargin Capital have launched a $93m investment fund, China Money Network reported on Friday.
The fund will focus on blockchain companies in South Korea and China, with the aim of encouraging cooperation on projects between the two countries.
Limited partners in the fund include Korea Development Bank, Industrial Bank Of Korea and Mirae Asset Financial Group.
The news comes as cryptocurrency exchange Binance launches a $1bn fund, as Global Corporate Venturing reported yesterday.