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.

AccessTimeIconAug 4, 2022 at 8:56 a.m. UTC
Updated May 11, 2023 at 6:52 p.m. UTC

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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.


Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about