Three Chinese companies such as HDFH will set up a $1 billion blockchain investment fund

On November 20th, Cao Yu, Chairman of Shenzhen Haode Financial Holdings Co., Ltd. (HDFH) announced at the 2019 International Financial Cooperation Forum held in Shanghai that it would unite Yillion Bank and Zhongguancun Private Equity Venture Capital Association. (ZVCA) cooperated to establish a global digital banking alliance blockchain investment fund. The fund will work with domestic and foreign investors on a scale of approximately $1 billion, with a six-year investment phase and a two-year exit phase, investing in digital banking and a mature financial technology infrastructure platform worldwide.