180 Capital, a Middle East-based Fintech firm, has officially launched a blockchain-focused brand, named ‘180 Digital Assets,’ which aims to capitalize on the disruptive technology for uses beyond cryptocurrency transactions – primarily, trading, finance, and commerce.
180 Capital is a holding company that incorporates Amana Capital, Centroid Solutions, and 514 Capital Partners. The three brands announced their transformational plan to unite their operations back in December 2017, as Finance Magnates exclusively reported.
The new subsidiary has appointed Hadi Kabalan as CEO to guide its expansion within the blockchain industry. Hadi brings more than 20 years of technology experience and 180 Capital expects his leadership in the space to advance its initiatives significantly.
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Mr. Kabalan advocates the disruptive potential of cryptocurrencies and blockchain. In 2016, he helped build the EMEA business of Otonomos platform, which allows companies to incorporate on the blockchain. He also participated in the FCA Regulatory Sandbox and Dubai Future Accelerators.
“Digital assets and the cryptographic technologies underpinning them are disaggregating financial markets and products and redefining a more intuitive user experience for the digital-first generation. We are dedicated to taking a leading role in bringing the benefits of this disruptive technology to clients globally across wholesale and retail markets,” said Hadi Kabalan, CEO of 180 Digital Assets.
Commenting on the news, Karim Farra, co-founder of 180 Capital, said: “We believe that DLT is just beginning to scale as it is attracting considerable attention from governments and the private sector who seek to benefit from its inherent superior characteristics.”
Ziad Aboujeb, co-founder of 180 Capital, added: “Blockchain has the potential to disrupt many industries including financial services. It is expected to generate $10tn worth of opportunities by 2027 and to impact 10% of the global economy.”