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PwC Crypto Head Departs to Set Up $75M Digital Asset Fund in Dubai: Report
Henri Arslanian's new fund, Nine Blocks Capital Management, has been granted provisional regulatory approval in the Gulf city.
Updated May 11, 2023, 6:52 p.m. Published Aug 4, 2022, 8:56 a.m.
Big Four accounting firm PwC's crypto head has left that role at the firm to set up a $75 million digital asset fund in Dubai, the Financial Times reported Thursday.
- Henri Arslanian's new fund, Nine Blocks Capital Management, has been granted provisional regulatory approval in the Gulf city, according to the report.
- The fund has received $75 million from its main backer, Nine Masts Capital, a Hong Kong-based hedge fund.
- Arslanian, who will stay at PwC as a senior adviser, cited ease of travel and Dubai's supportive regulatory environment for crypto firms as the reason for choosing it to establish a digital asset fund.
- Hong Kong would have been a "natural home," he said, but it still requires mandatory quarantine for most international travelers. He also considered Singapore.
- There has been a spate of crypto companies securing licenses in Dubai in recent months, including Binance, OKX and FTX, with Kraken being granted a license in Abu Dhabi.
Read more: Fund Manager Fintonia Group Receives Provisional Virtual Assets License in Dubai
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