The fund will also make indirect investments through Venture Capital funds whose priorities in technologies like the Blockchain.
The new fintech body is aimed at improving financial research, coordination and planning, China’s central bank announced on its website on Monday.
Rakuten launches the Rakuten FinTech Fund with the aim of empowering great entrepreneurs around the world.
Top 10 FinTech startups highlight how FinTech is developing at a rapid pace. The sector is one of the fastest growing businesses in Silicon Valley. It represents 7.2% of the U.S. GDP and unlike the established traditional players like banks and brokerages, marketplaces have the ability to be nimble and efficient.