Citi is launching a new investment fund focused on the future of financial technology, according to an announcement.

The fund will aim to “develop innovative products and services for financial technology” and “develop and invest in companies building on the blockchain technology and financial technologies,” according to the company.

The investment will be led by New York-based hedge fund BlackRock, which Citi said will invest $500 million.

The announcement comes a week after Citi announced a $500m investment in blockchain startup ConsenSys.

The move marks a major expansion of Citi’s investment in financial technology.

Earlier this year, Citi launched a blockchain fund focused entirely on blockchain and digital currency.

That fund has raised $30m, according the investment platform.