Japanese financial information group Fisco will launch a cryptocurrency trading fund worth 300 million yen, which is equivalent to $ 2.7 million, to invest in Bitcoin and cryptocurrencies this month.

Fisco, which is based in Tokyo, is a bank that has research and information functions on stocks, currencies, bonds and commodities, inside and outside Japan, it plans to start a special fund to operate with cryptocurrencies. Nikkei information informs that this company will invest its own capital, but will also carry out a round of raising capital from two other FinTech companies that operate on the stock market, of which the name has not been revealed and whose goal is 300 million euros. yen, which is 2.7 million dollars at the exchange rate.

This fund will be the first developed in Japan and will be the first focused on Bitcoin and other cryptocurrencies and according to the data that exists, it will be launched at the end of January. The Treasury wants to achieve a 20% return on the fund, every year. This fund will also seek to obtain benefits through arbitrage opportunities, analyzing the prices of cryptocurrencies in national and foreign exchange houses.

The Fisco group is one of the first to investigate and adopt cryptocurrencies. It was at the beginning of August last year, when they issued a three-year debt valued at 200 Bitcoins, which at that time was equivalent to $ 800.000, to a subsidiary of the Fisco group. Masayuki Tashiro, head of product at Fisco, explained that issuing debt in cryptocurrencies was to explore the potential of Bitcoin bonds, as a viable tool to raise funds. This agreement was born, after in April it was recognized, through legislation, that Bitcoin was a legal payment method in the country. "We hope that Bitcoin will eventually be recognized as a financial product," Tashiro commented at the time.