VanEck, one of the firms that issue spot Bitcoin exchange-traded funds (ETFs) in the United States, has launched a new initiative to support early-stage projects related to cryptocurrencies and artificial intelligence.

The initiative, called VanEck Ventures, has created a $30 million fund to invest in fintech, crypto, and artificial intelligence startups at the pre-seed and seed stages. The fund’s main investment themes include tokenized assets, internet-based financial marketplaces and stablecoins, and tokenized capital markets-based payments.

VanEck Ventures will be led by former Circle Ventures executives Wyatt Lonergan and Juan Lopez. Circle Ventures was launched in late 2021 by Circle Internet Financial, which operates the USD Coin (USDC) stablecoin. At Circle Ventures, Lonergan and Lopez have invested more than $50 million in early-stage companies ranging from infrastructure to consumer applications.

According to Lonergan, VanEck Ventures’ focus on stablecoin projects is important because he believes stablecoins will emerge as an open-source banking layer.

This is a developing story and more information will be added as it becomes available. Share your thoughts in the comments.