London hedge fund giant plans to enter the crypto space! Insiders: Targeting stablecoins, crypto payments
An anonymous source revealed that London-based hedge fund giant Marshall Wace, with $55 billion in assets under management, is planning to invest in the cryptocurrency industry, with initiatives including acquiring stakes in specific matured crypto institutions.
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Marshall Wace
MARSHALL WACE is one of the world's largest hedge funds, headquartered in London and established in 1997, with assets under management of approximately $55 billion. The fund specializes in fundamental analysis to evaluate companies with significant stock price deviations.
Focus on Stablecoins, Payments, Blockchain Technology
According to sources cited by the Financial Times, Marshall Wace will be investing in areas such as stablecoins, digital currency payment systems, and blockchain technology.
Marshall Wace's crypto investment strategy will be led by Amit Rajpal, the CEO of Marshall Wace Asia. In addition to investing in crypto companies, the hedge fund may also engage in cryptocurrency trading.
Invested in USDC Issuer
The development organization behind USDC, Circle, raised $440 million at the end of May, with Marshall Wace being one of the investors in this funding round, along with other investors such as Digital Currency Group (DCG) and FTX.
Rise of USDC
Although Tether (USDT) remains the leader in stablecoins, the market share of USDC continues to increase. Researcher Ryan Watkins from Messari believes that due to Tether's heavy reliance on the Tron network, USDC will eventually dominate on the Ethereum blockchain.
Previously, Federal Reserve Board member Randal Quarles also expressed the view that developing a central bank digital currency (CBDC) in the U.S. would have more drawbacks than benefits, suggesting that utilizing stablecoins alongside existing financial payment systems could be a better improvement.
This shift towards the crypto space by MARSHALL WACE, which historically focused on traditional finance, reflects these developments.
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