Chinese government invests in cryptocurrency

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China cryptocurrency
Catherine Li, Chairwoman and CEO of THEKEY, working in THEKEY Nanjing Office. (Source: Medium)

Cryptocurrency project THEKEY says it has received funding from a bank and government in China.

In a medium post addressed to its “investors and community members,” the company said the investment has come after its involvement with International Competitive Bidding (ICB).

“As one of the incubation projects, THEKEY will receive funding support from People’s Bank of China and Nanjing Municipal Government,” said CEO Catherine Li.

“The contract is of great significance. (It) not only signifies the recognition of THEKEY project … from Chinese government, but also shows a positive gesture from People’s Bank of China.” M

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