Blockstream Announces Sean Bill as Chief Investment Officer, Launches Asset Management Division
- Susan SarandonOriginal
- 2024-11-20 03:46:10447browse
Blockstream, a Bitcoin infrastructure company, has announced Sean Bill as its new Chief Investment Officer (CIO). The announcement marks the launch of the company's Asset Management Division, which aims to develop Bitcoin-based financial products targeting institutional investors.
Bitcoin infrastructure company Blockstream has announced the launch of its Asset Management Division and the appointment of Sean Bill as its Chief Investment Officer (CIO).
The division will concentrate on developing Bitcoin-based financial products for institutional investors, as Blockstream expands its presence in the rapidly growing market.
Blockstream's existing technology, such as the Liquid Network, will be utilized by the new division to create investment products. The Liquid Network is a Bitcoin sidechain that enables the tokenization of assets.
The company intends to launch a Bitcoin yield fund and a USD yield fund as part of its asset management strategy. The Bitcoin yield fund will function similarly to a money market fund for Bitcoin holders, while the USD yield fund will generate returns by using Bitcoin-backed loans.
Both products aim to meet the rising demand for yield-generating Bitcoin-based investments.
Blockstream will tokenize these products on the Liquid Network using its Asset Management Platform (AMP). The platform includes features such as whitelisted asset issuance and compliance with AML and KYC regulations.
Currently, the Liquid Network holds over $2 billion in tokenized assets, including stablecoins and U.S. Treasury bills, which constitutes a significant portion of blockchain-based real-world assets.
Bill joins Blockstream after serving as a hedge fund manager and public pension fund officer, bringing a wealth of experience in institutional investments. He is also known for his advocacy for Bitcoin adoption.
At Blockstream, Bill will be responsible for integrating Bitcoin technology into institutional financial strategies.
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