One of China’s leading insurers has backed the establishment of two crypto investment funds in Hong Kong. The business move comes against the backdrop of the region’s ambitions to become a hub for digital assets, and despite the negative regulatory attitude towards the market in the mainland.
CPIC is China’s third largest state-owned insurance company, Chinese crypto journalist and blogger Colin Wu, also known by the Twitter handle ‘Wu Blockchain,’ noted in a post on Monday, citing a report by the Chinese news outlet 36kr.com. China’s third largest state-owned insurance institution Pacific Insurance Investment Management Hong Kong Branch and Waterdrop Capital launched a compliant blockchain venture capital fund and POS token income enhancement fund in Hong Kong.
This portends more state-approved cryptocurrencies
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So China is back in the game again?
Looks like the Chinese insurance giant is stepping into the crypto game in Hong Kong! It's always exciting to see big players entering the space and embracing the future of finance. Let's see what this move means for the industry and how it will shape the future of crypto in…
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So the UK, EU, UAE, HK etc... are all giving clarity and talking crypto hubs while the US does its best to drive the US crypto industry to those locations! The future is digital, everything will be digitized - this is like driving the internet away in the 90's!!!
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