Latest news with #Sampaio
Arabian Post
28-04-2025
- Business
- Arabian Post
Hashdex Breaks Ground with First Spot XRP ETF on Brazil's B3 Exchange
Hashdex, the prominent crypto asset management firm based in Brazil, has launched the world's first spot XRP exchange-traded fund on B3, the São Paulo-based stock exchange. The ETF, known as the Hashdex XRP Fund , started trading this week, marking a significant milestone not only for Latin America's evolving crypto landscape but also for the global cryptocurrency investment market. Trading commenced after months of regulatory processes and product development, during which Hashdex worked closely with Brazil's Comissão de Valores Mobiliários , the national securities regulator. The fund offers direct exposure to XRP, the digital asset created by Ripple Labs, without requiring investors to manage the underlying cryptocurrency themselves. The launch of XRP11 follows a broader trend of growing institutional acceptance of crypto assets in Brazil, where regulatory frameworks have been more accommodating compared to major markets like the United States. Hashdex's move underscores Brazil's increasingly assertive position as a hub for cryptocurrency innovation. Marcelo Sampaio, CEO of Hashdex, said during the fund's launch that the introduction of a spot XRP ETF aligns with the company's mission to 'bridge the gap between traditional finance and digital assets'. Sampaio added that the demand for diversified crypto investment vehicles has been consistently growing among Brazilian investors, citing the success of earlier Hashdex crypto ETFs such as HASH11, which tracks a basket of cryptocurrencies. Brazil's regulatory environment has played a key role in facilitating this development. The CVM has exhibited a proactive stance towards regulating crypto assets while encouraging innovation. In contrast, regulatory bodies like the US Securities and Exchange Commission have taken a more cautious approach, creating delays and uncertainties around the approval of spot crypto ETFs, particularly for assets beyond Bitcoin and Ethereum. XRP, the digital token linked to Ripple Labs, has had a complex relationship with regulators globally. A significant development came after Ripple secured a partial legal victory against the SEC, wherein a US federal court ruled that XRP sales on public exchanges did not constitute investment contracts. This ruling, while still subject to ongoing litigation and appeals, provided a degree of clarity that has emboldened issuers like Hashdex to pursue XRP-focused financial products in other jurisdictions. The Hashdex XRP Fund is structured similarly to traditional ETFs. Units of XRP11 are backed 100% by physically held XRP tokens, which are stored in institutional-grade custody solutions provided by trusted crypto custodians. The fund is priced and settled in Brazilian reals, and its portfolio is independently audited to ensure transparency and security for investors. The move by Hashdex is seen by analysts as a strategic attempt to cement its leadership in the crypto asset management sector within Latin America. Hashdex has already been at the forefront of innovation, having earlier collaborated with Nasdaq to launch a Bitcoin futures ETF in the United States through a hybrid strategy. The launch of XRP11 marks the company's first foray into offering single-asset spot ETFs focused on altcoins. Investor response to the new product has been encouraging. Trading volumes for XRP11 on the first day exceeded initial expectations, indicating substantial appetite among retail and institutional investors for regulated crypto products. Paulo Mesquita, Head of Business Development at Hashdex, commented that 'the robust reception signals a maturation of crypto investing in Brazil, with investors seeking broader exposure beyond Bitcoin.' See also UAE Emerges as Global Leader in Cryptocurrency Adoption Attention now turns to the potential for similar products in the United States, where the SEC's approach to spot crypto ETFs has been cautious, despite recent approvals of Bitcoin spot ETFs involving major financial institutions like BlackRock, Fidelity, and Grayscale. Market participants are closely monitoring whether Hashdex's success in Brazil might embolden US asset managers to push harder for spot ETFs centred on altcoins such as XRP. Several experts suggest that the SEC's attitude towards XRP remains a critical obstacle. James Seyffart, an ETF analyst at Bloomberg Intelligence, noted that 'until the regulatory status of XRP is definitively settled in the United States, it is unlikely that a spot XRP ETF will gain approval'. However, he added that legal outcomes favourable to Ripple could eventually open the door to similar products in the American market. Brazil's advancement comes at a time when global demand for cryptocurrency investment vehicles continues to evolve. Investors are increasingly seeking exposure to digital assets through traditional financial instruments, particularly those offering regulated, easy access without the complexities of direct crypto ownership. Latin America, driven by countries like Brazil, is emerging as a significant frontier for such innovations, offering lessons for larger markets grappling with regulatory hesitations. Beyond XRP, Hashdex is reportedly exploring the possibility of launching additional single-asset ETFs focused on other major cryptocurrencies such as Solana and Polygon , depending on market conditions and regulatory developments. Such diversification could position Brazil as a critical player in the next wave of crypto investment products, rivalling traditional centres like the US, Europe, and parts of Asia. Arabian Post – Crypto News Network
Zawya
05-03-2025
- Business
- Zawya
Egis unit to design 212-unit Saadiyat Island residential project
U+A, part of Egis Group and a global architecture and design firm, has signed an agreement with leading UAE group Taraf Holding for the development of Solea, a mid-rise residential project on Saadiyat Island, Abu Dhabi. With a Gross Floor Area (GFA) of 34,167 sq m, Solea establishes a new benchmark in coastal urban living by seamlessly integrating contemporary design, sustainability, and affordability, said the U+A in a statement. Rising seven floors above a basement parking level, Solea offers 212 residences, ranging from one-bedroom apartments to expansive four-bedroom homes. The design ethos harmonizes architecture, interiors, and landscape solutions to deliver an elevated residential experience. Solea's architectural vision embraces modernity, functionality, and sustainability, responding to its coastal surroundings while fostering a vibrant sense of community. Its refined aesthetic is characterized by clean lines, expansive glazing, and integrated landscaping cultivating a sophisticated yet inviting atmosphere, it stated. The Egis unit delivered the design scope for this development, encompassing architecture, interior design, and landscape design, ensuring a cohesive and integrated approach across all aspects of the project. "Our vision was to create a contemporary residential complex that harmonises with Saadiyat Island's coastal surroundings while delivering high-quality urban living," remarked Tiago Sampaio, Design Principal at U+A. "By incorporating interlocking massing, we achieved a dynamic architectural expression that fosters a sense of community through integrated private and communal spaces," stated Sampaio. According to him, the thoughtfully crafted development consists of two interconnected buildings, distinguished by an innovative interlocking massing strategy that creates a striking architectural identity. The façade composition - a rhythmic blend of glass and solid elements - maximizes natural light penetration while ensuring privacy and energy efficiency. Landscape areas further enhance liveability, featuring lush green spaces, water features, shaded seating areas, and pedestrian-friendly pathways, said Sampaio. At the heart of Solea, a resort-style pool area encourages relaxation and social engagement, complemented by serene courtyard spaces. Sustainability is a cornerstone of Solea's design, ensuring long-term environmental efficiency through key strategies," he added. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
04-03-2025
- Business
- Trade Arabia
Egis unit to design 212-unit Saadiyat Island residential project
U+A, part of Egis Group and a global architecture and design firm, has signed an agreement with leading UAE group Taraf Holding for the development of Solea, a mid-rise residential project on Saadiyat Island, Abu Dhabi. With a Gross Floor Area (GFA) of 34,167 sq m, Solea establishes a new benchmark in coastal urban living by seamlessly integrating contemporary design, sustainability, and affordability, said the U+A in a statement. Rising seven floors above a basement parking level, Solea offers 212 residences, ranging from one-bedroom apartments to expansive four-bedroom homes. The design ethos harmonizes architecture, interiors, and landscape solutions to deliver an elevated residential experience. Solea's architectural vision embraces modernity, functionality, and sustainability, responding to its coastal surroundings while fostering a vibrant sense of community. Its refined aesthetic is characterized by clean lines, expansive glazing, and integrated landscaping cultivating a sophisticated yet inviting atmosphere, it stated. The Egis unit delivered the design scope for this development, encompassing architecture, interior design, and landscape design, ensuring a cohesive and integrated approach across all aspects of the project. "Our vision was to create a contemporary residential complex that harmonises with Saadiyat Island's coastal surroundings while delivering high-quality urban living," remarked Tiago Sampaio, Design Principal at U+A. "By incorporating interlocking massing, we achieved a dynamic architectural expression that fosters a sense of community through integrated private and communal spaces," stated Sampaio. According to him, the thoughtfully crafted development consists of two interconnected buildings, distinguished by an innovative interlocking massing strategy that creates a striking architectural identity. The façade composition - a rhythmic blend of glass and solid elements - maximizes natural light penetration while ensuring privacy and energy efficiency. Landscape areas further enhance liveability, featuring lush green spaces, water features, shaded seating areas, and pedestrian-friendly pathways, said Sampaio.
