Announced wednesday, Roger Vers’ company, Bitcoin.com, plans to launch a $200 million investment fund to boost Bitcoin Cash adoption. The fund titled “BCH Ecosystem Investment Fund” will focus on payment related solutions and non-custodial financial services for Bitcoin Cash. Furthermore, the fund will invest in and incubate businesses like payment gateways, processors remittances, wallet and merchant acquirers. At launch, projects looking for funding will be able to submit proposals through a dedicated landing page on Bitcoin.com.
Why it matters:
Bitcoin Cash launched in 2017 out of its infamous hard fork from Bitcoin. Unlike peers that launched in 2017 it does not have an ICO warchest or ecosystem development fund. The launch of BCH Ecosystem Investment Fund could provide much needed capital to support ecosystem development of the Bitcoin Cash project.
At $200 million, the BCH Ecosystem Investment Fund would be among the largest ecosystem funds in the industry. A $200 million warchest would put it on par with some of the largest ICOs of 2017 such as Tezos ($XTZ) and Filecoin who raised $232 million and $257 million.