KB Asset Management, the investment arm of KB Financial Group, South Korea’s largest financial company, has launched the country’s first blockchain-focused mutual fund.
- According to the report, the KB Global Digital Chain Economy fund will invest in three major areas.
- Companies that manufacture the hardware required to support blockchain activities, such as Nvidia, AMD, and Intel, are one area of investment.
- A second arm consists of software companies that provide blockchain-based services. IBM, Amazon, and Baidu are among them.
- The third investment segment focuses on companies that use blockchain technology in their operations. PayPal, Square, NTT Data, and Tencent have all been named.
- The fund will invest primarily in companies based in the United States, with smaller allocations to companies based in Japan, Europe, and China.According to Korea Financial Investment Association data cited on the KB Asset Management website, KB Asset Management had more than $90 billion under management as of February.
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