Hedge fund Marshall Wace plans to invest in the crypto sector: Report


London-based hedge fund Marshall Wace, with $55 billion in assets under management, reportedly plans to invest in the crypto sector.

The Financial Times reported the news on Tuesday, citing people familiar with Marshall Wace's plans. The hedge fund is said to be interested in acquiring stakes in crypto companies that are at a late stage in their development.

Specifically, Marshall Wace will target investments in sectors such as stablecoins, payments systems for digital currencies, and blockchain technology, per the report.

Marshall Wace is already an investor in Circle, the company behind the stablecoin USDC. The hedge fund participated in Circle's $440 million fundraising round, which closed in May.

Marshall Wace's crypto portfolio will reportedly be headed by Amit Rajpal, CEO of Marshall Wace Asia. Besides investing in crypto firms, the fund could also potentially trade cryptocurrencies, per the report.

Marshall Wace is the latest big hedge fund to enter the crypto sector. U.K. hedge fund billionaire Alan Howard is an investor in at least nine crypto firms, including CoinShares and Ledn. American hedge fund Renaissance Technologies also held positions in crypto mining stocks, including Canaan and Marathon, as of March this year.

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With more than $100 billion in market cap across all chains, it is likely that the DeFi market cap will grow to $200 billion by 2025. However, many users still face various technical barriers when using decentralised platforms to do on-chain farming, staking and trading, while off-chain solutions face liquidity issues, fiat restrictions and the lack of a central multichain to support crypto assets and institutional-grade custodians. 
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