SBI Group announced its crypto assets fund to allow all Japanese citizens to buy cryptocurrencies easily without going through the exchanges.
At the present time, there are numbers of crypto exchanges and platforms that allows to buy and sell crypto assets. But besides all these things, there are some limited numbers of crypto funds, which are giving crypto assets purchases services. However the numbers of crypto assets funds are increasing year by year, but still in the present time people are lagging to buy crypto assets easily.
In the latest, the biggest finserv of Tokyo, SBI Group, announced the launch of its SBI Crypto Fund. Crypto Fund will be operated and traded by the SBI alternative FUND independently. This alternative FUND of SBI was established on 2 December and aimed to have a total of 5 million yen. However, at present, it is around $4500 as per record available on 18 Dec.
SBI crypto fund will support Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP, Bitcoin Cash (BCH), Chainlink (LINK), and Polkadot (DOT) only.
As per the official announcement of SBI, all the people that are willing to use the services of the SBI crypto fund will have to go through the anonymous agreement process with the application of SBI. On this agreement, SBI stated:
“Since it is not suitable for all customers, it can only be purchased by customers who meet certain standards set by our company.”
Sister virtual currencies firm SBI VC Trade will handle the management work of an anonymous crypto association. That anonymous crypto association will take care of the crypto investment in the SBI crypto fund.
SBI also pointed out that they will keep a 20% ratio of the investment in all the crypto assets. That means SBI will maintain diversification perfectly within all crypto assets that they are supporting.