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According to a story on Yahoo Finance, Steven Mnuchin, the former US Treasury Secretary said he is investing in blockchain companies but not cryptocurrencies.

Speaking at the Milken Institute Global Conference, Mnuchin said investors should know what their money is going towards when it comes to investing in stablecoins, reports Yahoo Finance.

Investors should know what their money is going toward when it comes to investing in stablecoins, he said Tuesday at the conference in Beverly Hills, California.

Mnuchin touted cyber space as a “giant market”, the story reports, that could prompt companies to grow 10 or 20 times in size. Meanwhile, he said he will invest in global firms that do business in China but will stay away from China-only companies.

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