The story is an eternal encounter: Gerard Lopez founded Mangrove Capital Partners with Mark Tluszcz and Hans Jurgen Schmitz, in the mid-2000s, for one of the first “successes” in the world of modern technology, launching 2 million and then reselling Skype to Ebay for 3.5 billion euros; The other, Gregory Fishman, was already working on the development of trading algorithms (which would take seven years and ten million dollars), which was finally brought together under the banner of the Quantum Prinz Capital Fund in 2012, in Bermuda, with Arsen Yakovlev.
On Friday, the launch of a conglomerate, The Lydian Group, which is serving as CEO with Mr. Fishman as its “business partner”, was first announced according to the terms of a press release sent to Tech.eu alone. This conglomerate, which appears to have had two feet in Luxembourg since last March 18, brings together “ten companies under its sponsorship, which together have more than 35 million users, more than 500 institutional clients, 800 employees and a monthly transaction volume of more than 20 billion dollars”.
Joining the board will be Mark Telszcz, CEO of Mangrove Capital Partners and Chairman of Wix, and Andrea Rossi, former member of the AXA Group Executive Committee and CEO of AXA IM, a $900 billion global multi-asset manager. Other members and leaders will be announced in the coming weeks.
The iPhone moment is coming
“As mainstream adoption of cryptocurrency and Web3 continues to grow, and the digital and physical worlds continue to darken, we wanted to launch a business that represents the entire asset value chain. We wanted to lay a solid foundation for an economy that has the potential to be the largest the world has ever known,” said Gerard Lopez in the statement. “Recent disruptions in the industry have already benefited a group like ours, as we have always had a well-established long-term strategy for challenging conditions – unlike many other companies. I think the current market has laid a stronger foundation for the major players in the industry and made us more optimistic than ever.”
For the CIO, this “central virtual economy” will one day be the “iPhone moment.”
From CoinTelegraph to TradeSanta
A group spokesperson told Paperjam that Lydian Group owns 40% to 100% of the shares of each of these companies, which are somewhat active in crypto and Web 3.0 – the decentralized web. We find there:
CoinTelegraph, a crypto and blockchain news site, has 15-20 million visitors per month and accounts for “44% market share in the industry,” according to the release. Born in London, headquartered in New York, run by Jay Cassano and a presence in ten languages;
CrossTower, a cryptocurrency exchange founded in 2019 that is based in the US – anyway under US licenses – with offices in the US, Bermuda and India. In April, the company’s CEO, Kapil Rathi, announced the launch of perpetual futures trading, which is now available on the Bermuda Digital Exchange;
– Swoo, a Dutch-born mobile wallet project and one-stop shop for storing loyalty cards, payments and managing family finances, in currency and cryptocurrency. For the latter, users can safely buy, sell, transfer and store digital currencies on the app.
– Coin360, the leading provider of cryptocurrency market data founded in 2017;
TradeSanta, an automated trading platform designed to make automated cryptocurrency trading accessible to everyone, allowing traders of all experience levels to take advantage of the ever-changing crypto market, but only on some exchanges. More than 125,000 people are registered, with the company trading more than $400 million per month.
– SEAM, a solution that uses a QR code to generate a digital copy of anything purchased in the real world. This is one of the problems that professionals in the luxury industry are currently trying to solve with NFTs.
– Bequant, a London-based major digital asset exchange and broker, reducing entry barriers for institutional and professional traders. The company has nearly $500 million in global assets, according to the press release.