Ex-Blockchain lead at Cinnober joins Norway’s Arcane Crypto fund
Eric Wall used to be the blockchain lead at Cinnober until the company got acquired by NASDAQ, where it aimed to advance and accelerate the company’s strategic direction as a technology and analytics provider. Since then Wall left the exchange business to join the Oslo-based Arcane Crypto. But this isn’t just any crypto fund. Wall decided to join an investment branch of Arcam which is a crypto firm running a technology team along with a crypto news portal Kryptografen.com as well as trading arm. The firm decided to create a crypto fund that would be more exclusive, aimed at high net worth Scandinavians and institutional investors across the world.
The team behind Arcam
The team and its strategies remain somewhat inaccessible since the company does not want to disclose any extra details. But the team behind Arcam is comprised of well know mostly Norwegian faces who have been in the public eye before and are well versed in crypto. The CEO of the company is Torbjorn Bull Jenssen who is well known across Norway and is a widely cited crypto expert so the ex-Cinnaber man probably made the right decision. Meanwhile, the company itself was founded by the Norwegian investors Ketil Skorstad and Kristian G. Lundqvist an also funded by Morten Klein who is a chairman of the Swedish casino’s company Cherry.
Scandinavian countries have unique and varying approaches when it comes to gambling. They vary from country to country too but are similar in a sense that they don’t comply with the standard European approach. Unlike Europe and its regulations, gambling faces many challenges in Scandinavian countries. This trend just recently started to change, specifically in Sweden where the country has been displaying a more liberal approach.
But the dust hasn’t settled yet. Swedish regulators are very strict on licensing, but the abovementioned Cherry AB’ online gambling brand actually managed to get a two-year license expanding to Cherry Casino and ComeOn, informs Norwegian gambling news source. The licensing previously was usually much shorter the same was the case for Cherry which previously had a much shorter licensing time frame. Norway meanwhile is staying loyal to its existing regulatory body and its laws, where citizens aren’t under any legal threat if they decide to play but the casinos and gambling venues are largely monopolized and they are the ones that the government expects to comply with the rules.
Can Arcane keep up with bitcoin
When speaking with the media outlets Wall did not disclose any specific about what kinds of assets would Arcane focus on but we do know that one of the metrics will be the outperformance separate from the revaluation of bitcoin. The success of the fund will be measured by how well the funds perform against bitcoin. Arcane might also look in altcoins direction but nothing has been confirmed yet. One of the most interesting things Wall shared with the media was that he thinks that the fake-it-til-you-make-it approach that some projects have displayed in the past will no longer pass.
There are very well defined areas in the cryptocurrency design where one can aim to compete with bitcoin and Arcane knows that. Wall spent three years at Cinnober that offering tech solutions for stock and crypto exchanges and he spent a lot of time explaining the basics of the industry to those used to traditional finance terminology. He will work in the same direction here as well as just different demographics. While the focus of the fund is definitely Scandinavia and more so Norway, the fund is not exclusive to those living in these countries and Wall will probably enjoy talking wit customers whom he can interact with in English.