Published On: Mon, Apr 9th, 2018

$1.6 Billion Chinese Fund Launches in Support of Blockchain Startups

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Blockchain startups in China now have a new source of funding they can tap into.Today, April 9, 2018, the Xiong’An Global Blockchain Innovation Fund launched with $1.6 billion (10 billion yuan) to funnel into promising Chinese blockchain startups. The announcement took place during the grand opening of the Hangzhou Blockchain Industrial Park in China. The industrial park, which will also serve as an incubation center for the startups, is located in one of the biggest tech hubs in China, Hangzhou city in Zhejiang province, home to e-commerce giant Alibaba. The Xiong’An Global Blockchain Innovation Fund was jointly funded by …

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