12 Feb '18, 4pm

Global Fund AlphaBit Backs Singapore Blockchain Startup BitCar

BitCar , a Singapore-based blockchain startup, has announced that AlphaBit , a fund launched last year, has purchased a “substantial number of BitCar tokens.” BitCar is currently conducting a token sale to fund the development of its blockchain platform, which intends to facilitate the pegging of cryptocurrency to scarce hard assets such as rare and exotic cards. The startup claims it has already sold S$8.2 million (US$6.1 million) worth of BitCar tokens. AlphaBit, a hybrid between an open-ended mutual fund and a hedge fund, raised US$300 million last year to invest in digital currency assets around the world. Commenting on his firm’s purchase of BitCar tokens, AlphaBit CEO Liam Robertson said: “We believe that the tokenization of tangible assets is a significant emerging trend in the blockchain technology space and we see BitCar as having an enduring business model for to...

Full article: https://coinjournal.net/global-fund-alphabit-backs-singap...

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