BlockFi, a financial services company focused on building products for cryptocurrencies, announced it has hired Rishi Ramchandani as Director of Business Development, Asia.
Cryptocurrency has become a compelling asset class for institutional investors worldwide and Rishiwill be pivotal in growing BlockFi’s global institutional services. BlockFi continues to expand in Asia, having recently partnered with Poolin to expand services for crypto miners and brought on HashKey and Three Arrows Capital as strategic investors.
Ramchandani, will be responsible for building out BlockFi’s business in Asia Pacific and growing its institutional partnerships and client roster in Asian markets. This added presence will enable BlockFi to provide unmatched 24/7 service to its institutional clients. Rishi brings more than 10 years of experience in traditional finance to the team, having recently led global and Asia equities trading teams for Bank of America Merrill Lynch. He also joins a growing team of BlockFi’s new hires from the traditional finance sphere, including recent additions from Credit Suisse and American Express. Rishi is also a fintech entrepreneur and investor, and previously founded and launched two startups where he used his knowledge of traditional markets and passion for helping clients grow wealth to advise on investment strategies.
“Institutional support and adoption for crypto has soared among traditional investors, proving it to be a desired and valuable asset class. Yet in markets across Asia, which have been early adopters of crypto, there is an untapped opportunity to capitalize on and evolve institutional trading strategies,” said Ramchandani. “BlockFi, with its pursuit to bridge the gap between traditional finance and crypto, and its zero-loss track record, is the best player in the space to do so.”
“It’s no coincidence that bitcoin has been the best-performing asset for eight of the last 10 years and after this year’s halving, established financial institutions have been exceptionally eager to profit from the entire crypto market,” said Zac Prince, founder and CEO, BlockFi. “As investors look to hedge market positions, especially in times of uncertainty, crypto will likely be one of the most confident investments a traditional institutional investor like a hedge fund or family office could make. With Rishi Ramchandani on board, and his wealth of knowledge on the various trading cultures and regulations in these markets, BlockFi is well-poised to lead the charge in Asia.”
BlockFi Institutional Services provides bespoke solutions that are tailored towards each institution’s strategy and provide clients with access to cryptocurrencies to execute trading strategies and hedging their positions. The institutional services team has a proven track record in delivering financial innovation driven by a proprietary risk model. BlockFi manages more than $1 billion in assets on the platform and has operated with a 0% loss rate across its portfolio.