Matcha Capital, a Blockchain crypto investment fund based out of Europe, soon to be opening its offices in Dubai UAE within DMCC ( Dubai Multi Commodities Centre) has made a significant investment in BitBlaze crypto exchange start-up, which will be launching its presence in Pakistan.
Omar Rahim, Managing Partner of Matcha Capital stated on LinkedIN, “It has been a long time in the making but I am delighted to make public our investment into BitBlaze which will be launching a cryptocurrency exchange in Pakistan, the 5th most populous nation on earth!”
As per Rahim’s post BitBlaze will be powered by Binance Cloud.
Rahim who was previously the Regional Director for Binance in MENA is one of the first to invest in BitBlaze’s pre seed round, founded by Abdul Alim and Imran Rahim. Rahim will also take over the role as chairman of BitBlaze noting his prior experience in Binance. Matcha Capital when launched in early 2022 had stated that the fund would be capped at around 60 million USD.
Dr. Marwan Al Zarouni, a leading UAE blockchain entrepreneur and expert and Founder of Dubai Blockchain Centre was also among the pre seed investors in BitBlaze.
Rahim added on LinkedIn, “We were delighted to support Abdul Alim & Imran Rahim at the pre-seed stage. They’ve been working tirelessly in the background for months and I wish them all the best with their upcoming seed round”
Omar Rahim spoke to LaraontheBlock about this investment given the current bearish market. He noted, “ This is our biggest investment to date, even though the markets are reeling right now and many crypto companies are scaling back. Yet, we feel carefully planned investments can drive real value in these markets. These investments are great for the investor but more importantly great for the Startups because they are focused on building and not on token prices.”
As for why Pakistan, Rahim explains, “Pakistan continues to be a sleeping giant. As the 5th most populous nation on earth, the market is huge and in terms of crypto adoption is holds the top three position worldwide. People are just waking up to the potential that this exciting market offers and we want to lead the way in building crypto infrastructure in Pakistan.”
