FinTech made in Dubai: Interesting perspectives
Dubai is a shining example of what human endeavor can achieve. The fascinating and stunning oasis of prosperity and unending business opportunities is the jewel in the crown of the U.A.E. Once the backyard of the world, today a splendid archway to the new world. A business and entertainment destination par excellence, boasting of a fine amalgam of modern economic splendor and the old worldly charm of tradition and culture.
Positive transformation
Dubai is shedding its image as an oil-dependent state and is transforming itself into a hub for technology — manufacturing, FinTech, IT. The recent announcement by the progressive government that Dubai is poised to become the world’s first blockchain-driven city in the world is testament of the regime’s belief in the future of global economy.
The strategic location of Dubai as the bridge between the East and the West works wonderfully in its favour. Many major corporations have set up base, with their head offices in Dubai. The ease of doing business and splendid infrastructure are the major factors in the meteoric rise of Dubai as an economic hub of the world.
FinTech is welcome
Innovative programs, like Dubai International Financial Centre’s (DIFC) FinTech Hive that selected promising start-ups for a comprehensive accelerator program, are attracting novel ideas that are set to bring a revolution within traditional financial markets. The DIFC is the largest financial hub in the Middle East, Africa and South Asia and attracted 315 companies in 2017, 305 in 2016 and 309 in 2015. Within a span of just three years, close to 1000 financial companies have set up base in Dubai. The DIFC has also earmarked a fund of $100 million for helping FinTech companies to set up their businesses in Dubai. This speaks volumes about the ease of doing business in Dubai as well as the government’s initiatives to make Dubai a hub for FinTech companies.
A safe haven for Pecunio
It is no wonder then that Pecunio, the world’s pre-eminent cryptocurrency investment platform, has also set up base in the new home of FinTech innovation. The decentralized investment platform enables safe and easy management of blockchain assets.
The latest addition to their product portfolio is a gold-backed token:
Pecunio will exchange physical gold in worldwide branches for tokens available as cryptocurrency on the blockchain. One Pecunio Gold Coin (PGC) represents exactly 1 gram of segregated, unallocated 999.9 fine gold from LBMA-approved refineries.
With its simple dashboard, a cryptocurrency card and a free digital currency exchange, easy investments and spending of crypto assets are open to everyone. It is the one-stop shop for the average non-tech-savvy user, high equity investor as well as angel and venture capitalists. Pecunio also specialises in providing expert consulting services to blockchain start-ups by providing each individual client with a tailor-made business plan.
A leadership choice
Reinhard Berger, Founder-CEO of Pecunio, had no doubts or qualms in mind when he decided to make Dubai the home of Pecunio. An original FinTech veteran, Reinhard has witnessed first-hand the revolution that technology brought to traditional finance. In October, 2016, Reinhard founded Pecunio with a vision to help people invest with confidence in the new asset class — cryptocurrencies. He aimed at bringing all his learnings and expertise in traditional and alternative fund management to help people create wealth from this exciting new class of digital assets. His first choice to set up this business was Dubai.
About Reinhard Berger
Reinhard’s education speaks volumes about his experience and expertise in combining finance, tech and sharp business acumen. He has an M.Sc. in Computer Science, an M.A in Law, as well as an MBA. In 2009, he founded Valluga AG, a Liechtenstein-based investment company that helps individuals invest in precious metals and alternative assets. It also conducts financial education programs to decipher the nitty-gritties of investments and financial planning. His career started with global consulting giant Accenture and quickly set out to redefine the global banking system for clients like Credit Suisse, Invesco and UBS. He also served as principal for Capgemini, the French tech giant. In 2003, Reinhard cofounded Alternative Invest Finance AG, an independent hedge fund operator, where he managed alternative assets in excess of $250m.
Today, the journeys of Pecunio and Dubai aren’t dissimilar. Dubai is a city that is opening up its arms to attract the world to invest in it, while Pecunio is creating a platform that aims to attract people to reap the rewards of a new asset class, the likes of which the world has never seen before. Both Dubai and Pecunio are full of possibilities and opportunities. Both have their feet firmly grounded and have eyes on a future that is both exciting and prosperous.
