The story is an eternal meeting: the one, Gerard Lopez, founded Mangrove Capital Partners together with Mark Tluszcz and Hans Jurgen Schmitz, in the mid-2000s, for one of the first “hits” in the modern technological world, the launch of 2 mio. dollars then the resale of Skype to Ebay for 3.5 billion euros; the other, Gregory Fishman, was already working on the development (which will take seven years and ten million dollars) of trading algorithms, finally assembled under the Quantum Brains Capital Fund tab in 2012, in Bermuda, with Arsen Yakovlev.
On Friday, it announced the first launch of a conglomerate, The Lydian Group, of which he is CEO with Mr. Fishman “his business partner”, according to the terms of the press release sent to Tech.eu alone. This conglomerate, which seems to have two legs in Luxembourg since March 18 last year, brings together “ten companies under its auspices, which together number more than 35 million users, more than 500 institutional customers, 800 employees and a monthly transaction volume. of more than $ 20 billion “.
Mark Tluszcz, 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, will join the board. Other members and leaders will be announced in the coming weeks.
An “iPhone” moment on the way
“As the mainstream adoption of crypto and Web3 continues to grow and the digital and physical world continues to blur, we wanted to launch a business conglomerate representing the entire asset value chain. we wanted to lay a solid foundation for an economy that has the potential to become the largest the world has ever known, ”Gerard Lopez said in the statement. “The latest upheaval in the industry has actually benefited a group like ours, as we have always had a well-founded long-term strategy for tough conditions – unlike many other companies. I think the current market has laid a stronger foundation for key players in the industry and made us more optimistic than ever. “
For its CIO, this “centralized virtual economy will one day have its ‘iPhone moment'”.
From CoinTelegraph to TradeSanta
The group’s spokesman told Paperjam that Lydian Group owns 40% to 100% of the shares in each of these companies, which are quite active in crypto and Web 3.0 – the decentralized web. We find there:
– CoinTelegraph, a crypto- and blockchain news site that has 15-20 million visitors a month and accounts for “44% of the industry’s market share” according to the release. Born in London, it is headquartered in New York, led by Jay Cassano and has a presence in ten languages;
– CrossTower, a cryptocurrency exchange founded in 2019 based in the US – in any case under US licenses – and has offices in the US, Bermuda and India. In April, its CEO, Kapil Rathi, announced the launch of Eternal Futures Trading, now available on their Bermuda digital exchange;
– Swoo, a Dutch-born mobile wallet project and one-stop-shop for storing loyalty cards, payments and managing households’ finances in both currency and crypto. For the latter, users can buy, sell, convert and store digital currencies securely on the app.
– Coin360, a leading provider of cryptocurrency market data, founded in 2017;
– TradeSanta, an auto-trading platform designed to make automated crypto-trading accessible to all, allowing traders of all levels of experience to take advantage of the ever-changing crypto market, but only on certain exchanges. More than 125,000 people are registered, and the company trades for more than $ 400 million a month.
– SEAM, a solution that uses a QR code to generate a digital version of any object purchased in the real world. This is one of the problems that professionals in the luxury industry are trying to solve at the moment with NFTs.
– Bequant, a London-based digital asset exchange and prime broker that lowers the entry barrier for institutional and professional traders. The company has nearly $ 500 million in global assets, according to the press release.