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Huiyin Goes Big on Blockchain With $60-million Additional Investment

Chinese investment group Huiyin has gone further on its commitment to blockchain investments by announcing an additional $60-million investment in its blockchain startup fund, designed to support new developments and innovations in the sector.

The further investment is the latest in a long line of moves from Huiyin Blockchain Venture, which now has a fighting fund of some $80 million to invest in startups and blockchain projects.

The news comes at a busy time for blockchain startups and developers, as initial proof-of-concept models are increasingly rolled out for testing in new markets. It is hoped that as these technologies continue to develop, they move ever closer to market viability, with potentially significant developments for numerous industries.

James Wo, president of the Huiyin investment fund, said that the fund would now be in a position to consider investment opportunities at seed stage and Series A and B, as it continues to identify partners for investment support.

"Our parent company believes blockchain use cases, infrastructure and exchanges are all important, and we’re going to select great projects from those three areas."

Wo indicated that the fund intends to allocate its resources between now and 2019, signaling it is in no particular rush to invest. But by supporting the right startups exploring the right technologies and uses, Huiyin is betting big on the potential success of blockchain technologies.

The last 12 months have seen hundreds of companies and research projects explore the blockchain, with developments happening across a number of industries including financial services, property leasing and real estate, shipping and even agricultural supply chains.

The fund has already invested in blockchain startups, mainly with a focus on bitcoin companies like Purse, SatoshiPay and Unocoin.

As it looks to expand its horizons into new areas of blockchain development, Huiyin will continue to support blockchain developments through this fund, as the technology moves toward more numerous viable uses.