• analysiswatch

Title: PwC Crypto Leader Henri Arslanian Launches $75M Digital Asset Fund In Dubai

Aug 05, 2022 05:30AM ET

By: AnalysisWatch

Henri Arslanian, former Crypto Leader and PwC partner, launched Nine Blocks Capital Management in Dubai. Introducing his new crypto neutral market hedge fund "with a focus on institutional allocators," Arslanian said, "We believe that institutional investors want exposure to digital assets, but through fund managers that have an established track record of digital assets, are regulated, have experience in traditional finance, and comply with the highest standards of operational due diligence."

Speaking about the fund's lead sponsor, Hong Kong-based Nine Masts, Arslanian said, "Nine Blocks is absorbing Nine Masts' existing digital asset trading team, starting with around 10 members between the investment and non-investment teams."

We are launching with $75 million from Nine Masts, with an additional day-one investment from its partners and existing investors.

According to a report in the Financial Times, the former Big Four player has chosen to set up shop in Dubai for his "crypto-opening." The executive praised Dubai's supportive regulatory environment, citing the digital hedge fund's swift provisional regulatory approval by Dubai's Virtual Asset Regulatory Authority

Nine Blocks further revealed that it has opened a physical office of portfolio managers in the Cayman Islands following its registration with the Cayman Islands Monetary Authority.

Henri Arslanian considered basing the fund's operations in Hong Kong, but was discouraged by the mandatory quarantine for international travellers.

Why should you care?

With Dubai pushing to become a crypto hub, a large number of companies are moving to the Gulf city to try to secure a license.

FTX receives a full license to operate a cryptocurrency exchange in Dubai.

The Indian government pushes crypto exchanges to leave for Singapore and Dubai.

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