Triton Liquid, a hedge fund specialising in digital assets, has secured in-principle approval from the Abu Dhabi’s Financial Services Regulatory Authority (FSRA).
The firm was established by Chris Keshian, chief investment officer.
It has a team of five with a US$30 million anchor investment from venture capital fund FJ Labs.
UAE’s crypto craze sparks call for diversification
Currently, it has $43 million in assets under management and a target to raise $50 million in additional capital before the end of the year.
According to Keshian, the firm will focus on early stage ventures operating in the digital assets space. It has so far invested in Synthetix, a DeFi protocol for derivatives trading, and blockchain platform Solana .
Keshian also praised the leadership in the UAE for being favourable to the digital assets market. In addition to Abu Dhabi, Dubai has also been proactive in regulating the digital assets space.
DFSA licences another digital wealth firm
In March, the Dubai International Financial Centre enacted what it claims is the world’s first digital assets law.