Li Ka-shing’s Horizon Ventures is investing in Bakkt

Source: AFP

Singapore, SINGAPORE – According to Forbes, Hong Kong billionaire Li Ka-shing looking to dip his toes into cryptocurrencies starting with an investment in BAKKT using Horizon Ventures to do so. Horizon Ventures has previously also backed Bitpay and Blockstream three years ago. His son Victor Li is currently helms his business empire as chairman. The Hong Kong business magnate is, of course, one of the richest man in the world and was a proponent of cashless payment methods when he partnered with Alibaba to bring digital wallet services to Hong Kong. Horizon Ventures had previously invested in DeepMind and Siri while the Li Ka Shing Foundation had stakes in Facebook and Spotify.

Despite numerous delays, Bakkt has indicated that it has raised US$182.5 million in series A funding. The BAKKT Bitcoin (BTC) daily futures contract is created by the Intercontinental Exchange (ICE), owners of the New York Stock Exchange (NYSE) and the expected launch date is expected to be soon with Starbucks among merchants onboard.

Others who have also provided funding include Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s owned M12, Pantera Capital, PayU, and Protocol Ventures. All heady names that add further credibility. And by working closely with the Commodity Futures Trading Commission (CFTC), they expected to get the green light soon to commence operations.