Omar Rahim, the former MENA director of Binance, has put together a new fund that aims to invest in pre-seed and seed-stage companies in the crypto space.
In a LinkedIn post, Rahim said his new company Matcha Capital will use the funds to support a greater presence in the crypto space. It is intended to finance companies whose founders specialize in the crypto, fintech and blockchain sectors.
“Matcha is a crypto fund that will focus on pre-seed deals across the room. I look forward to working with some of the most exciting companies in the crypto industry! Currently looking for talented individuals to join the MC team as well as our portfolio companies, ”he added.
After 15 years in the European tech startup scene, Omar Rahim joined Binance in June 2020 as the exchange expanded to the Middle East and North Africa (MENA) to fill a void in the region’s digital asset market by providing access to their services and infrastructures is facilitated.
Binance said the MENA venture is focused on building partnerships with local, compliant actors across the region’s digital assets and blockchain.
To that end, Binance has appointed Omar Rahim as director of MENA to lead corporate strategy and future business. His job was to ensure compliance with the various regulatory frameworks in the countries throughout the region.
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Omar has 16 years of experience trading oil and equity derivatives in the US and UK markets. Before joining Binance, he was the co-founder of a startup called EnergiMine that developed energy management solutions based on AI and blockchain technology. His career includes various trading roles in the UK and Germany including Refco Trading Services Limited, SSE Airtricity and Vattenfall.
Omar split from the influential crypto exchange last year and ended a tenure of less than two years.
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Also in October, Binance appointed a former DFSA executive as their primary regulatory liaison, part of an attempt by the world’s largest crypto exchange to reverse regulatory red flags and reinvent itself as a regulated finance company.
Mark McGinness, former head of international relations at the Dubai Financial Services Authority (DFSA), joined Binance in the newly created position after 16 years with the prominent watchdog of the UAE. He brings over three decades of experience as a financial services overseer.
During his many years at DFSA, McGinness played a key role in establishing international connections and recognition of the financial center, in drafting and negotiating MoUs and FinTech agreements. He was instrumental in building a global network of over 85 supervisory authorities and, according to his LinkedIn profile, has signed 100 letters of intent for the DFSA.