This week, the company Blossom Finance has announced open registration of Islamic microfinance Fund that will accept multiple cryptocurrencies, including BTC, BCH and ETH.
Focused on social investment the investors will receive profit from the network of microfinance partners Blossom in the Indonesian province of Central Java in partnership with PBMT Ventura.
According to the head of the Blossom Finance Matthew Martin (Matthew Martin), the new Fund will provide international investors the opportunity to obtain commercial profit from microfinance institutions focused on poverty reduction. The company has entered into a partnership with several institutes model BMT (Baital Mal wat Tamwil), oriented on solving social problems and establishing self-sustaining companies.
The funds raised will be used to support micro-businesses and sellers of traditional markets. To participate in the project investors can use Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH) or US dollars.
«The last few years, we have created a network and entered into key partnerships in Indonesia. Partnership with PBMT — fully licensed venture capital company in Indonesia — allows us to help some of the best microfinance companies in the world,» explains Martin.
The Blossom Fund will be focused exclusively on the decisions of the microfinance model suitable for the BMT. BMT unit offer commercial financing and territorial savings and stimulate the development of local companies. BMT provide financial products traditionally designed for «non-Bank» population and companies.
The opening of the Fund was preceded by serious scientific study, which revealed that Bitcoin and other cryptocurrencies in accordance with Sharia law, and Muslims are allowed to use them. The new Fund will be the first company that allows you to use BTC, BCH ETH and the people of the Islamic religion.
«What we do, in fact, globally, stresses Martin, we use Bitcoin and Ethereum to transfer money around the world cheaper and faster than the banks – thus, we get a more competitive exchange rate».