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Where should you license your crypto fund or exchange?

Episode description:

Natallia Hunik and Praveen Kumar dive into the hot topic of evolving crypto regulations and what the firms should be doing to stay within the lanes as global crypto regulations are evolving.
They discuss various jurisdictions for setting up crypto business and its pros and cons.

Praveen is the founder and CEO of Belfrics Group. He has over 15 years of experience in financial markets with specific expertise in OTC and exchange-traded derivatives. He has served multiple financial institutions in India, the Middle East and Far east and has provided liquidity solutions to various exchanges.

Highlights for discussion:

  • Praveen shares some details of the recent transaction in which his Crypto Exchange company Belfrics has been acquired by a US publicly listed company, and the multiples people could expect in the crypto business; (About the transaction:
  • Recent report from PWC on Crypto hedge funds indicates that the total assets under management (AuM) of crypto hedge funds globally increased to nearly US$3.8 billion in 2020 from US$2 billion the previous year. That constitutes 0.095% of the total AUM managed by the hedge funds. Around a fifth of hedge funds are investing in digital assets (21%); the average percentage of their total hedge fund AuM invested in digital assets is 3%. More than 85% of those hedge funds intend to deploy more capital into the asset class by the end of 2021.
    Given this huge potential to grow, Praveen was asked about his thoughts on potential crypto hedge funds’ future and shared his opinions.
  • As an industry pioneer starting in FX and ventured out to crypto early on, Praveen is followed by a lot of talent from the FX industry who comes after his footsteps and moved on to crypto projects. Many are setting up their own crypto funds. According to the same PWC report, Cayman Islands, US, Gibraltar, BV and Lux are the most popular jurisdictions for FX funds. Which jurisdictions give one the biggest bang for the buck? Praveen shares his insights on this important question
  • What are the top 3 things for the new crypto fund managers to consider when starting their own crypto fund? Praveen shares his opinion.
  • Banking is challenging for FX firms, how is it for crypto? How hard is it to acquire banking relationships for crypto firms and what do they need to keep in mind? Praveen talks about this in-depth.
  • Is BTC still the major traded crypto currency for the hedge funds?

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