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Press Release: QCP & Further Ventures Announce Strategic Partnership to Expand Digital Asset Innovation in Abu Dhabi and MENA Region

Published April 17, 2024
2 mins read

Article by Sue Ann Sim

Both companies to develop new institutional digital offerings, QCP also plans to expand to Abu Dhabi

QCP and Further Ventures partnership signing

Abu Dhabi, UAE & Singapore, 17 April 2024: Today, on the eve of Token2049 Dubai, QCP, a global digital asset trading firm and market maker with close to $60b in annual trading volumes in 2023, and Further Ventures, a leading venture building and investment firm backed by Lunate and Mastercard, jointly announced a strategic partnership aimed at expanding digital asset innovation. 

Abu Dhabi and the UAE are fast becoming the global hub for digital asset and blockchain adoption, driven by the convergence of institutional capital with an agile regulatory framework designed for next generation market participants. [1]Last month, Abu Dhabi Global Market (ADGM) announced that their assets under management rose by 35%, with 102 asset managers managing 141 funds operating there as of end 2023. [2]An October 2023 report by Chainalysis found that the majority of cryptocurrency transactions in the UAE comprised large institutional investments, followed by transfers for professional investments and institutional investments.  

Tapping into the immense growth potential in Abu Dhabi, QCP and Further Ventures are partnering to launch new financial and derivative product offerings combining QCP’s considerable experience in digital asset trading and Further Ventures’ licensed broker-dealer and custodial platforms. On the back of this partnership, QCP is expanding to Abu Dhabi with plans to establish a presence in Abu Dhabi Global Markets as its jurisdiction of choice. More details will be announced at a later stage.

Melvin Deng, CEO, QCP shared that, “Increased institutional adoption in digital assets combined with exponential growth of traditional AUM present a compelling and untapped opportunity for QCP to expand in Abu Dhabi, supported by our partnership with Further Ventures. We greatly value Further Ventures’ deep expertise and passion to develop the ecosystem as we grow our industry leadership in institutional digital assets.’

This collaboration brings together QCP’s market-leading and deep institutional capabilities in digital asset trading with Further Ventures’ investment expertise and extensive portfolio such as Tungsten and Fuze.

Faisal Al Hammadi, Managing Partner, Further Ventures added: “We chose QCP as a preferred partner to deepen our reach in the institutional digital assets ecosystem and to bring compelling new investment products to the market. Combining QCP’s extensive expertise in financial and derivative products and market making and Further’s market leading distribution through companies like Fuze and Tungsten will solidify the UAE as the jurisdiction of choice to trade and settle digital asset investment products.” 

QCP

Established in 2017, QCP is one of the first digital asset trading firms in Singapore, with a vision to partner the next generation of investors to unlock institutional opportunities in digital assets.

QCP brings to clients deep expertise gained from thriving through multiple market cycles. A global market maker in digital asset derivatives with a vast network of liquidity providers and counterparties, we are shaping the future of digital asset markets through greater access and efficiency. We offer a range of tailored derivatives and spot trading as well as structured solutions to institutional, professional and accredited investors.

An early-stage investor in crypto and blockchain, QCP’s portfolio includes core trading infrastructure, exchanges, data and token ecosystems. Headquartered in Singapore, QCP is supported by over 70 professionals in trading, business development, operations, risk and compliance teams. 

QCP’s insights cover weekly trading updates, monthly and quarterly views, and can be accessed on our official social platforms such as Telegram, Twitter, LinkedIn and more.

More information can be found at qcpgroup.com.

Further Ventures

Further Ventures is a venture building and investment firm based in Abu Dhabi. We created Further to be the ultimate institutional co-founder. We make concentrated capital commitments, work proactively with regulators, build software, forge partnerships, and bring our collective expertise to make sure our ventures have the best chance to become category leading companies. Our companies are changing how businesses borrow capital, employees save for retirement, financial institutions interact with virtual assets, and other activities at the frontier of regulatory policy and technology

More information can be found at further.ae.

Press contacts

QCP

[email protected]

+65 8218 1052

Sue Ann Sim

Marketing & Communications

Further Ventures

[email protected]


[1] https://www.adgm.com/media/announcements/abu-dhabi-the-capital-of-capital-ends-2023-with-adgm-as-the-regions-fastest-growing-ifc

[2] https://www.chainalysis.com/blog/cryptocurrency-gains-by-country-2023/ and https://blockworks.co/news/uae-institutional-crypto-chainalysis

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Disclaimer

This information contained in this website is intended as a general introduction to QCP Capital and its activities as a Digital Payment Token (DPT) service provider and is for informational purposes only.

 

QCP Capital is not acting and does not purport to act in any way as an advisor or in a fiduciary capacity vis-a-vis any counterparty. Therefore, it is strongly suggested that any prospective counterparty obtain independent advice in relation to any trading investment, financial, legal, tax, accounting or regulatory issues discussed herein. This website is only directed at informed and qualified investors. Your entry to this website attests that you are fully aware that trading of DPTs is not suitable for the general public and that you are an informed and qualified investor, and are also fully cognisant of all technological and financial risk(s) associated with trading Digital Payment Tokens.

 

In the event you intend to onboard with QCP Capital to trade in DPTs, by onboarding with us you acknowledge that you are aware of any rules and/or regulations applicable to the provision of DPT and/or financial services, the high degree of risk involved and that in no event will QCP Capital or any if its directors or employees be liable for any injury loss, claim or damage (whether direct, indirect, consequential or incidental) arising either directly or indirectly out of, or in any way connected with, the site, or its use.

 

If you are located, incorporated, or otherwise established in, or a citizen or resident of certain jurisdictions, QCP Capital may be unable to, or otherwise reserve its right to refuse to engage in or establish a trading relationship with you. Please contact us if you believe you have received this notice in error. QCP Capital is not registered or licensed to operate in the states of Louisiana and New York and will not be able to establish a trading relationship with you if you are resident, incorporated or have your principal place of business in New York or Louisiana.

 

You also acknowledge that you understand that trading in payment token derivatives (“PTD”) are also not any less risky than trading in DPTs. PTD services are not regulated by the MAS and QCP Capital is as such not licensed under the MAS to provide PTD services. You should only trade in PTDs if you are an Accredited Investor and/or have sufficient experience and knowledge in trading PTDs.

 

Risk Warning on Digital Payment Digital Services
The Monetary Authority of Singapore (MAS) requires us to provide this risk warning to you as a customer of a digital payment token (DPT) service provider.

 

Before you pay your DPT service provider any money or DPT, you should be aware of the following.

 

Your DPT service provider is an exempt payment services provider pending licensing under the Payment Services Act (2019) to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.

 

You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.

 

You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.

 

You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.