Binance, plans to create a $1 billion dollar cryptocurrency-based fund. Binance is seeking twenty heavy weight investors with at least $100 million under asset management as partners.

Using only Binance’s BNB tokens as an investment vehicle, the fund will be administered through the exchange’s incubator spin-off Binance Labs.

"Investment is all one level, and it is held on a long-term basis. Investors and entrepreneurs are locked together. We like to lock in long-term projects. Non believers are not welcomed.” said by Ella Zhang, head of Binance Lab.

The news follows a similar move this week by Japanese developer, "Gumi Cryptos," which has attracted four proteges and announced the launched its own blockchain investment fund worth $30 million to attract international projects.

“We like early stage. We invest in equity or tokens. We like financial services. We like game technologies, and we believe there is a strong connection between gaming and crypto,” co-founder Miko Matsumura told VentureBeat.

Competition and growth is very health in this new and up and coming crypto currency market. With weath management coming into play, there is no doubt that wealth investors are noticing there is a lot of money to be made.

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