by David Rothnie 36 minutes ago
Xalts, a Hong Kong-based digital-asset management firm is on the expansion trail after securing $6m in funding from Citi and a group of hedge funds.
Co-founder and former fixed income trader Ashutosh Goel established Xalts in July 2022 after spending nine years in Hong Kong with HSBC. Former Meta Asia executive Supreet Kaur, who is the other co-founder, has relocated from Singapore to Dubai where she is building out its Middle East operation.
Goel told eFinancialCareers that Xalts will employ around eight people by the end of the month and will expand to around 30 people by the end of the year.
Xalts is scouting for trading and portfolio management talent in Hong Kong, where it’s currently looking to recruit a director covering digital asset exchange traded funds (ETFs) and a crypto trader and portfolio manager. It’s also looking for five staff in India and is expanding to Singapore.
Xalts develops investment products and platforms for global institutions looking to access opportunities in digital assets, even after the prices of cryptocurrencies slumped this year. The firm aims to launch multiple fund products linked to digital assets, including mutual funds and ETFs listed on global exchanges.
As well as asset management, Xalts develops issuance platforms to facilitate third party issuance of digital asset linked structured notes and asset management products as well as offering Treasury solutions leveraging blockchain and tokenization to facilitate investment across traditional and digital asset classes.
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