Native entrepreneurs and blockchain enthusiasts are happily exploring other countries to play their role in the ever growing cryptomarket due to country’s strict take regarding cryptocurrencies..They are not giving up their hopes ,their aspirations associated with the flourishing cryptomarket..
USA -THE PROMISING DESTINATION FOR INDIAN CRYPTO INVESTORS
Driven by the country’s strict laws against cryptocurrencies ,there has been a trend of either shifting base among some cryptocurrency businesses or launching litigations against the government. A group of investors from India have moved ahead with launch of B1T Capital – a U.S.-based incubator exclusively focusing cryptocurrencies.
SEC records indicated that approximately a million dollars have been raised from the unrevealed investors and the fund was registered in Salt Lake City,Utah. For investment the company will exclusively focus on cryptocurrency startups registered in the U.S. via private presales.
Regarding the move ,Utsav Somani ,B1T Capital partner stated that it was a clear choice given the strict , non favoring regulations in India and the availability of desired regulatory and technological environment in the U.S. He furhter added about the nationality of all partners as Indian citizens ‘except maybe a few’.
Utsav Somani, while speaking to a local media organisation said :
There are going to be 500 new crypto funds in 2018 globally. Interestingly, none are from India. B1T Capital is a step towards changing that. India is the most emerging market geography that projects will need access to at some point in their maturity curve.
He highlighted that the funds aims to open India’s “crypto ecosystem”. B1T Capital is a newly-formed fund but has invested in Orchid, a distributed marketplace that aims to create a framework for digital citizenship. It aims to close another investment in July 2018.
He added the fund aims to open India’s “crypto ecosystem,” and hopes to find synergy in this regard.
Despite being a newly-formed fund, B1T Capital has invested in Orchid, a distributed marketplace that aims to create a framework for digital citizenship, and aims to close another investment in July 2018.Somani revealed that the fund invests in companies with an impressive lineup of investors