CTH Group, a holding company for three different Web3 and blockchain ventures, will establish its global headquarters in South Florida.
The business is looking at spaces in Miami neighborhoods including the Brickell Financial District, said spokesperson Ian Stirling.
"Being alongside the growing financial services and fintech communities will be advantageous," he told Miami Inno.
CTH Group operates crypto venture capital firm Fundamental Labs, digital asset manager IDEG and Atlas, a Web3 infrastructure service provider. Founded in 2016, the holding company is currently based in Singapore.
Fundamental Labs has hundreds of portfolio companies in areas such as blockchain, decentralized finance and NFTs. Cryptocurrency exchange platform Coinbase is among its exits, according to Crunchbase data.
Miami's effort to become a hub for blockchain and Web3 – a term that refers to a new version of the internet that would be powered by blockchain – makes it a prime location for CTH's global headquarters, said CTH Group founder Raymond Yuan. Local officials such as Miami Mayor Francis Suarez have made vocal efforts to recruit crypto, blockchain and Web3 businesses to the region over the past year in a quest to become a center for the emerging industry.
"[Miami] was an easy decision having seen first-hand the efforts the city is making to attract the businesses, talent and capital that drive our industry," Yuan said.
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