Henri Arslanian, the head of PwC’s cryptocurrency business, has left the firm to set up a new digital assets hedge fund for institutional investors in Dubai, according to a report by The Financial Times.
Arslanian chose the Emirate as the location for his new “institutional grade asset management firm” firm Nine Blocks Capital, Management because of its ‘crypto openness’ compared with other jurisdictions including Singapore and Hong Kong where scrutiny of the digital assets sector is on the increase in the wake of recent problems including the high-profile collapse of Three Arrows Capital.
The firm has been granted provision regulatory approval in Dubai and has also secured $75 million from its main shareholder, Hong Kong-based hedge fund Nine Masts Capital. Nine Blocks also has three portfolio managers based in the Cayman Islands.
