Onramp, a bitcoin asset management company, has announced that is has launched its sister company Onramp MENA as part of its expansion into the MENA region. Onramp MENA is backed by Early Riders, the first Bitcoin-denominated investment fund.
The company which is based out of Dubai UAE, at DIFC ( Dubai International Financial Centre) will offer Bitcoin asset management services built on their multi-institution custody model.
Ralph Gebran, Managing Partner of Onramp MENA, remarked, “The launch of Onramp MENA not only sets a new benchmark in Bitcoin asset management and custody within the region but also heralds the dawn of a transformative era. Our pioneering multi-institution custody model revolutionizes how Bitcoin, the decade’s top-performing asset, is managed and secured. Partnering with Early Riders, who share our enthusiasm for sound capital allocation, underscores our commitment to pioneering a robust and trustworthy investment landscape, propelling us beyond traditional boundaries and into unprecedented territories of innovation and trust.
Brad Myers, will hold the position of head of strategic partnerships and operations at Onramp MENA.
Onramp MENA was launched after the successful closure of an investment round led by Early Riders, an investment firm founded on a sound capital allocation thesis. By raising, deploying, and returning capital in Bitcoin, Early Riders is leading the transformation of capital allocation in a sound money era.
According to the company, the choice of expansion into MENA was a strategic move, as the company believes there is a harmony between Bitcoin’s core principle and Islamic finance’s ethical values.
Bitcoin’s inherent transparency and its proof-of-work basis not only adhere to the Islamic edict against creating money from money but also ensure that every transaction is clear and fair, resonating with the transparency and fairness requirements in Islamic finance.
Onramp MENA will introduce an innovative layer of security through their partnership with Coincover. The Onramp MENA platform , built on a Multi-Institution Custody model, now incorporates Coincover’s Protected Co-Signing service. This service significantly enhances the safety of Bitcoin transactions by adding proprietary technology and an insurance-backed warranty provided in collaboration with Lloyd’s of London.
Onramp MENA aims to combine their robust multi-institution custody model with the additional security layer from Coincover, to offer unmatched level of protection and transparency in Bitcoin asset management.
As per the blog their services are designed for High-Net-Worth Individuals, financial intermediaries, and institutional allocators, providing, deep domain expertise, educational resources, continuous market insights and heritage and estate planning.
In the past months Onramp has forged several partnerships in the MENA region with CoinMENA and others.
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