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China Merchants Bank is launching a blockchain investment fund

China Merchants Bank is launching a blockchain investment fund

In this photo illustration a China Merchants Bank logo seen displayed on a smartphone screen.

Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images
The Hong Kong-based CMB International, a subsidiary of China Merchants Bank, announced Wednesday morning, China time that it has launched a $50 million blockchain investment fund with Nervos, a Chinese public blockchain ecosystem.

This joint venture marks the first major investment in public chains by a Chinese state-backed bank. According to a press release, the new fund, named InNervation, will invest in startups that create consumer-facing products based on blockchain technology.



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