According to the latest reports, a mainstream institution has expressed its intentions of exploring the cryptocurrency industry. The particular mainstream institution is based in the United Kingdom and belongs to the hedge fund space.
The name of the particular mainstream firm is Marshall Wace, which is among the most prominent hedge funds in the United Kingdom. The hedge fund reportedly has its base of operations in London, United Kingdom, and currently manages $55 billion worth of assets.
The UK-based hedge fund manager has reportedly shared their intentions about getting into the cryptocurrency industry. The firm has revealed that it intends to jump into the cryptocurrency space with the most basic approach, which is making investments.
The firm is aiming to invest in payments, blockchain, stabelcoins, and digital currencies that belong to the crypto-space. The firm has announced that once it gains some exposure in the investment sector of the crypto-verse, it would take it to the next level.
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The firm has announced that after the crypto-investment exposure, it is going to set foot into the cryptocurrency trading sector. The particular report about Marshall Wace has been released by Financial Times. The news reporting firm has revealed that a particular piece of information has been provided by people not disclosing their identity.
Marshall Wace has announced that it is aiming to allocate a particular portfolio that will be dedicated to the acquisition of cryptocurrencies. It is going to go with further allocation towards the acquisition of stakes in companies that are owned privately and deal in digital finance.
The hedge fund manager has announced that it is going to invest in digital finance companies that are in the final stages of their developments. As Marshall Wace is new to the cryptocurrency industry, therefore, it needs time to learn more about the industry.
For now, the firm does not have much knowledge and understanding of cryptocurrencies. This is the reason why it is not going for firms that are just sharing their startup ideas in the crypto-verse.
Marshall Wace has revealed that it is already in talks with investors who are also interested in investing in cryptocurrencies. For now, the firm is aiming to increase its portfolio so it can invest more in cryptocurrencies. However, it is yet to be disclosed as to how much funds would be allocated by Marshall Wace for the new portfolio.
Prior to investing directly in cryptocurrencies, Marshall Wace has already made an investment in stablecoins. It was the beginning of the year 2021 when Marshall Wace had reportedly made an investment in Circle. The circle is the developer of USD Coin (USDC), which is the second most popular and largest stablecoin in the entire industry.