Marshall Wace is planning investments in digital assets in the latest sign that surging interest in cryptocurrencies and related infrastructure is attracting large investors, the Financial Times reported.
The $55bn hedge fund is looking at investments in blockchain technology, payments systems for digital currencies and stablecoins, the FT said. It will buy stakes in privately owned digital finance companies at a late stage in their development, a person familiar with the plans told the paper.
Marshall Wace has been looking to hire staff in the digital assets sector and could expand its interest rapidly with the potential to trade digital currencies, the report said. Many fund managers, banks and other traditional financial groups are expanding into digital assets as the sector grows and becomes more popular.
The launch will be led by Amit Rajpal, chief executive of Marshall Wace Asia and co-founder of Niyogin, an Indian fintech that lends to small businesses.
