Hassan Amjad, CEO Amontoldem Hedgefund
Previously, he has completed his Bachelors in Economics from University of Manchester, UK. After graduation, everyone expected him to land a high-profile job in a multinational firm out of the decent number of offers he had received! But Hassan was always interested in starting his own thing and took a radically different path. And he had an affiliation with Bitcoin as well so he decided to use it by becoming one of the first ones to introduce this ‘new form of money’ in Pakistan.
Currently, he is working as the Chief Executive Officer and Asset Manager at Amontoldem Hedgefund, which represents a group of people who are investing in Bitcoin which generated a revenue of over $1m by functioning only in Pakistan last year. They are hoping to work in the fin-tech industry to provide solutions for merchants and skilled remote laborers of Pakistan. The company is currently working to provide a worthy opportunity for overseas Pakistanis to send their remittances from abroad back into Pakistan using cost effective means of transaction, saving the country millions in transaction fees.
By making use of Bitcoin, hundreds of Pakistanis currently engaged in providing freelancing services or utilizing their international assets, are able to add approximately 35% per annum in GNP and tax net on their activities directly related to Amontoldem Hedgefund. Based on their research, freelancers earn an estimated 5% more income when using Bitcoin and they are currently holding many educational seminars across the country to bring awareness among our populace as to how this could prove to be beneficial to their own interests but also add greater value to our nation’s economy.
In the next couple of years, Hassan aims to provide payment processors inside Pakistan which will enable consumers to make use of cryptocurrency in their businesses and save the 2.5% fees that is cut off whenever Visa or MasterCard is used for transactions. In addition to this, his company is also looking forward to acquiring license with the Securities and Exchange Commission of Pakistan and further inculcate the money transfer industry in Pakistan, retaining the profits on future remittances made by Pakistanis across the globe.
TechJuice 25 under 25, 2017 Video