Blossom Finance Opens Halal Cryptocurrency Microfinance Venture Fund
Blossom Finance is an Indonesian consultancy company which has recently declared their cryptocurrencies as being ‘Halal.’ They also went ahead and partnered with the local VC to help in the launch of this new service that is targeted to the Islamic investors. The fund was established to raise money in ETH, BTC and also BCH, and also focus on investing in businesses that are socially engaged in the province of central Java.
Blossom Finance's Venture Fund
The new venture by Blossom was launched in partnership with PBMT Ventura; the aim was to utilize the PBMT’s prowess to the existing business model to ensure it effectively becomes a ‘Halal cryptocurrency micro fund.’
The Indonesian company fanciest itself as a ‘Halal’ fund that was especially designed for the Islamic Investor; as a result, this partnership will allow investments to explore the various opportunities that are aimed at reducing poverty levels while still generating a return, this is all done through the nominal profit sharing model.
According to the CEO of Blossom Finance, they have spent the last few years in designing and developing a network and also ensuring they make essential partnership in Indonesia to ensure all this is a success. The partnership they have gotten into with PBMT is a fully licensed venture capital that will allow the company in helping some of the best microfinance companies that we see in the world.
The PBMT will be accepting and raising investment opportunities either through Ethereum, Bitcoin and also Bitcoin Cash. From here they will invest this money in the Blossom’s BMT Venture, a venture that has been established to lend money to the medium, small, and the farmer-owned businesses. This is not all as the fund will also be accepting investments in USD, this will be through the Blossom’s Delaware registered office.
Is it a great move to build on Cryptocurrency exposure?
This new initiative is a win-win kind of situation, as this move has been said to increase the local’s in the participation and also the exposure of the cryptocurrencies. While the company can invest the raised cash to the good cause, and at the same time they are also able to generate sufficient returns to their investors.
It is true, the timing for launching this ‘Halal’ micro fund could not be better, as the Islamic nation is gearing up for the holy month of Ramadhan. Which has always been marked with an increase in various local businesses of food products and clothing.
The BMT Model
The Blossom’s BMT model will create opportunities for a community based saving and also some commercial financing for the various business that are at the grassroots levels. The platform will be able to offer small loans to the citizens who have no access to banking, or for the small business that don’t qualify to be referred to as ‘businesses’ for the present banks.
For sure this microfinance fund will be well received and appreciated by the citizens around as it is being said to be created for the people. The model is something unique as it is very different from the baking systems that have been around. The lawn sharks hate and are terrified of this business model, as they should because it will slowly put them out of business.