QCP and Further Ventures announce strategic partnership to expand crypto asset management

On April 17, QCP, a global digital asset trading company and market maker, and Further Ventures, a venture capital firm backed by Lunate and Mastercard, announced a strategic partnership to expand the scale of crypto asset management. QCP's annual trading volume in 2023 is close to $60 billion, and it plans to enter the Abu Dhabi market. Last month, Abu Dhabi Global Market (ADGM) announced that its assets under management had increased by 35% by the end of 2023, with 102 asset management companies managing 141 funds. Taking advantage of Abu Dhabi's huge growth potential, QCP and Further Ventures are working together to launch new financial derivatives. Melvin Deng, CEO of QCP, said, “The growing institutional adoption of digital assets, coupled with the exponential growth of traditional AUM, presents a compelling and untapped opportunity for QCP’s expansion in Abu Dhabi, enabled by our partnership with Further Ventures. As we continue to grow our industry-leading position in the institutional digital asset space, we value Further Ventures’ deep expertise and passion in growing the ecosystem.” Faisal Al Hammadi, Managing Partner at Further Ventures, added: “We have selected QCP as a preferred partner to deepen our presence in the institutional digital asset ecosystem and bring new investment products to market. Combining QCP’s extensive expertise in financial and derivative products and market making with Further’s distribution channels through companies such as Fuze and Tungsten will strengthen the UAE’s position as a preferred jurisdiction for trading and settlement of digital asset investment products.”