One of Biggest Bitcoin Mining Pools Announces Tie-Up with Three Arrows Capital

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Fri, 06/12/2020 - 14:40
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Alex Dovbnya
Cryptocurrency-oriented hedge fund Three Arrows Capital bags a deal with Poolin’s parent company
One of Biggest Bitcoin Mining Pools Announces Tie-Up with Three Arrows Capital
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In a recent tweet, Su Zhu, the CEO of Singapore-based cryptocurrency hedge fund Three Arrows Capital, has announced a strategic partnership with Bitcoin mining pool Poolin. 

Zhu considers Poolin to be ‘one of the most respected names’ in the Bitcoin industry, adding that it has been pleasurable to work with its founder Kevin Pan.

Zhu
image by @zhusu

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Debuting new products   

Poolin joined forces with Three Arrows Capital through its parent company Blockin.

According to a Medium blog post published by Poolin's vice president Alejandro De La Torre, the fund management firm will be able to provide their customers with secure, compliant, and simple financial products because of the partnership.          

The custodial Blockin Wallet app, which was launched by in late 2019, is expected to include some of them by the end of the year.   

Earlier this month, Poolin also inked a deal with U.S.-based company BlockFi that provides its customers with cryptocurrency-backed crypto loans to continue developing its lending products that were first announced in February.

Back in April, the second largest pool also launched a mining-oriented blockchain that also boasts a feature for calculating optimal transaction fees.

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A six percent stake in Grayscale 

Meanwhile, Three Arrows Capital recently made headlines after disclosing its 6.26 percent stake in cryptocurrency asset manager Grayscale Investments in its SEC filing.

This amount of Grayscale’s shares is estimated to worth 20,000 BTC ($190 mln at the time of writing).

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.