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Nigeria, Binance Looking to Build a Blockchain Hub City

Blockchain technology continues to push the limits of innovation, and various countries from around the globe are capitalizing on its capabilities. The country of Nigeria is teaming up with cryptocurrency exchange company Binance to create a blockchain hub city, according to Crypto News.

“NEPZA, the Nigerian government agency in charge of export processing zones, announced on Saturday that it is in talks with cryptocurrency exchange Binance to establish a ‘virtual free zone’ dedicated to blockchain technology and the digital economy,” the report said. “The National Economic and Production Zones Authority (NEPZA) hopes that the end outcome will be comparable to Dubai’s online free zone.”

Active, Global Diversification in 1 ETF

Investors looking for active global diversification in blockchain opportunities can look to exchange traded funds (ETFs). In particular, the Amplify Transformational Data Sharing ETF (BLOK) is an option.

While the majority of the fund (75%) contains holdings in North America-based companies, the fund also adds a touch of diversification with holdings in Western Europe and Asia Pacific. This allows the fund to gain exposure to growth opportunities abroad where blockchain technology could be utilized to its fullest extent.

As mentioned, the fund features an active management strategy that can flex with the movements of the market by putting holdings in the hands of seasoned portfolio managers. BLOK adds diversified exposure and cryptocurrency exposure without investing in the currencies themselves.

The fund invests in companies partnered with or directly investing in companies utilizing and developing blockchain technology, which is the technology behind cryptocurrencies like bitcoin.

Summary of BLOK’s features per its product website:

  • Global equity portfolio of professionally selected companies involved in blockchain technology and indirect crypto exposure.
  • An active management approach could enable the fund to remain flexible, make timely decisions, and identify companies that are best positioned to profit from the developing blockchain technology space.
  • Convenience and transparency of the ETF structure.

For more news, information, and strategy, visit the Crypto Channel.

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