Brazilian Cryptoasset Manager advertises Exec to lead European expansion

Brazilian Cryptoasset Manager advertises Exec to lead European expansion

hashdex has raised a manager of the competitor 21shares because the Brazilian cryptoasset manager wants to expand its presence in Europe.

Laurent Kssis, who will act as Managing Director and Head of Europe, joined the ETF issuer in the middle of his product expansion.

Hashdex that last year an administrative assets of over 1 billion

The company brought an ETF to the Brazilian stock exchange B3 at the beginning of this month. The product is to be traded on March 30 under the ticker Web311 and tries to replicate the CF Web 3.0 Smart Contract Platforms Index.

The introduction of Web311 follows the introduction of the Defi ETF (Defi11) of Hashdex, also in Brazil.

Now hashdex tries to repeat his success in Brazil on the European market, said Kssis. The company plans to create ETPs (marketed products) in Switzerland where it is already established, he added before such offers are introduced throughout Europe.

"While we develop products and bring on the market, we will continue to address innovative investors and help them to achieve the desired presence, but which they cannot currently achieve," said KSSIS in an email to block works. "In addition, we will concentrate on using our research capacities to further clarify the market via crypto innovations and investments."

hashdex tries to stand out from competitors by focusing on thematic products that offer commitment to the cryptom market, and not on individual assets "without much flexibility or diversification," remarked KSSIS.

KSSIS was formerly Managing Director and Global Head of Etps at the Swiss issuer 21shares, which offers almost two dozen single-asset ETPs. Hany Rashwan, CEO of 21Shares, said Blockworks in the past month that the company wanted to support the 50 most important cryptocurrencies by the end of this year.

"I have concentrated on products with individual assets in the past, but what hashdex specialized is, baskets with crypto assets that offer exposure in a safe and simple way," said KSSIS. "In view of the development of the requirements of institutional investors, we have completely geared to structure products and help investors achieve a broad commitment on the market."

Before 21Shares, KSSIS CEO of the Swedish crypto-emittenter XBT provider, which CoinShares acquired 2017. There he supervised the first European Ether ETP notification, which brought $ 400 million within a few weeks after the start.

Marcelo Sampaio, CEO of Hashdex, said in a explanation that the background of KSSIs-especially in Switzerland, which he described as "the leading place for the listing of crypto ETPs"-will help the company to accelerate its international reach.

The number of ETPs traded in Europe continues to grow, while the US Securities and Exchange Commission continues to reject approval for such offers.

The adding of KSSIS is the latest in a series of new settings at Hashdex.

In December, Matthew Flood added Matthew Flood as head of US business development and Jack Song as head of corporate communication and chief of staff of the country. At the time, the company said that it is planning to use its exclusive partnerships with Nasdaq and Victory Capital as part of its US expansion and expected to launch US products soon.

hashdex recently hired Nicole Dyskant as a global director for law and compliance.

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The Postbrazilian Cryptoasset Manager advertises EXEC to lead European expansion, there is no financial advice.