Brazilian Hashdex Looks To Expand In US After 2 Major Hires

The Brazilian Hashdex crypto asset manager looks to expand in the US after hiring two executives that will focus on growing the $1 billion footprint as we can see more today in our latest cryptocurrency news.

The company is adding staff for US operations and created positions for the head of corporate communications and chief of staff. Former Morgan Stanley executive Matthew Flood will lead the business developments of the US operations with the startup veteran Jack Song who will direct communications. Both positions are aimed to expand the company’s growth in the market and it will also lean into pre-existing relationships with the United States. Investing in these companies to create crypto products will likely appeal to more traditional investors.

Before joining Hashdex which is best known for having launched a few crypto ETFs, Flood serve as the business development executive at Morgan Stanley and also worked in the Wealth Management Division of the bank as well as at UBS Asset Management and Mercer Consulting. Song on the other hand will be the chief of staff in the US. He specialized in global technology communications and worked with companies like Grabango, Lime, and other venture-backed startups.

Hashdex partnered with the US-based asset manager Victory Capital to launch crypto investment products and the Victory Hashdex Nasdaq Crypto Index Fund was the first product released and was a private fund aimed at accredited investors. As a head of Hashdex’s business development in the US, Flood will mostly focus on expanding US distribution and fund product access along with Victory capital. Hashdex teamed up with the Nasdaq Stock exchange to create the Crypto Index and launch an ETF.

On the Brazilian stock exchange B3, Hashdex listed the Hashdex Bitcoin Reference Price Index which is a BTC-based ETF that seeks to neutralize carbon emissions and an ETH-backed ETF. It also launched a bitcoin-backed fund that is aimed at qualified investors. HAshdex said it has more than 250,000 investors which use the products worldwide and it even raised $26 million from Valor capital Group, SoftBank, and Coinbase ventures.

The Brazillian lawmakers are working on establishing regulatory frameworks that could make it easier to invest in BTC and other cryptocurrencies while still making it tougher on scammers and hackers. Brazil’s legislature approved the draft bill 2.303/15 which seeks to regulate the digital currencies which were initially introduced by Deputy Expedito Netto. However now, Deputy Aureo Ribeiro proposed an updated draft that seeks to give BTC legal status as a payment currency in the country.