Crypto Lending Startup BlockFi Hires Rishi Ramchandani As Director Of Business Development In Asiabr>
Crypto lending platform BlockFi has hired Rishi Ramchandani as Director of Business Development, Asia.
BlockFi is a New York-based non-bank lender that offers USD loans to cryptocurrency owners. The firm services clients in over 100 countries, and in all 50 US states. Its offerings include crypto-based interest accounts providing up to an 8.6% annual percentage yield on bitcoin, Ether and stablecoins; crypto-backed loans which allow investors to access liquidity up to 50% of an asset’s value in USD; and zero-fee trading.
Ramchandani has more than 10 years of experience in traditional finance, having recently led global and Asia equities trading teams for Bank of America Merrill Lynch. He 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.
As Director of Business Development in Asia, based in Singapore, Rishi 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.
“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.”
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.
“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 of 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.”