Omar Kassim compared some issues in the crypto space to those surrounding e-commerce in 2010
JadoPado founder Omar Kassim will launch the next crypto exchange and OTC market for the Middle East, Africa and Asia.
Dubai-based BitPado.com will use so-called ‘cryptocurrencies’ such as Bitcoin and Ripple.
Kassim, who sold his online market place JadoPado to Noon last year, revealed he is working on a global real estate management business, Esanjo, which operates on open-platform blockchain.
While working on the project, however, he realised the infrastructure was not in place, from a regional perspective, to allow people to reliably access the new asset class.
He told Arabian Business some problems in the space can be compared to those relating to e-commerce 10 years ago.
“We’re seeing similar problems in the crypto space right now around understanding and supplier acceptance. Given previous experiences and network in the region, we thought we could solve those solutions together and bring a new product to the market,” he told Arabian Business.
Kassim was tight-lipped about investors, but said he is in talks with regional players to grow the project. Some of the investment, however, is coming from Esanjo.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
700 Billion total market cap and the author refers to them as "So called cryptocurrencies."