Virginia county Fairfax has begun investing a portion of a $35 million allotment into a cryptocurrency lending fund managed by global asset managers VanEck.
The firm announced that it had received an initial tranche of the investment commitment from Fairfax County, which is allocating funds from two retirement systems into a variety of cryptocurrency-focused investment avenues.
Fairfax County had previously hinted at delving into the world of Decentralized Finance (DeFi) yield farming as part of its progressive attitude towards the cryptocurrency space. The county began investing a small portion of holdings from its Employees’ Retirement System and the Police Officers Retirement into various cryptocurrency companies and ventures from 2018 onwards.
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