Japan’s Advertising Firm Ceres Invests in Pantera Capital Crypto Fund

Japan’s advertising firm Ceres invests in Pantera Capital crypto fund

Ceres, advertising and marketing firm primarily based in Japan, has just emerged as the last investor in the blockchain-based hedge fund Pantera Capital that is located in San Francisco.

On 28 February, the company has published on its website that it was offering Pantera an undisclosed amount of yen for the group’s crypto fund.

Pantera, the first crypto fund in the US, has secured $13 million for its first offering in 2013, and $25 million for its second.

In August 2018, Pantera’s $175-million fund, named ‘Pantera Venture Offshore Fund III LP’, was registered.

The 10-year fund focuses on investments in blockchain-related firms and related projects.

Recently, Pantera has invested in Ripple, Brave as well as ICO tokens such as 0x and Proxy.

Ceres forays in crypto industry

This is not the first deal Ceres made in the crypto space. The advertising company has strongly invested in Xtheta, a crypto platform licensed to operate in Japan.

Moreover, the company operates as a token service named ‘Moppy’; a network through which rewards can be swapped for cash or digital currency.

For his part, Dan Morehead, Pantera Capital Chairman, has expected Bitcoin price to skyrocket in the years to come. Recently, he predicted the BTC price to reach $356,000 by 2022.

Japan Joins Countries Seeking to Issue CBDCs

Japan plans to join the countries seeking to benefit from the central bank digital currencies (CBDCs).

China would be the first country to launch a CBDC named digital Yuan.

However, several central banks are initiating explorations to offer a new kind of digital currency that is directly linked to a central bank. The move is hypothetical currently, but once applied, it would change both the banking industry and the crypto space.

Japan, which is one of the most attractive markets for digital assets, could also promote the issuance of a digital yen, in light of its favorable position in this regard.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.