Arbitrade could bring hundreds of jobs

Make text smaller Make text larger

  • Cryptocurrency plans: Len Schutzman, non-executive chairman of Arbitrade (Photograph by Scott Neil)

    Cryptocurrency plans: Len Schutzman, non-executive chairman of Arbitrade (Photograph by Scott Neil)


Coin and cryptocurrency exchange Arbitrade has spoken of bringing hundreds of jobs to the island as it sets up its world headquarters and digital exchange in Victoria Hall, on Victoria Street.

Members of its board have met on the island, and chairman Leonard Schutzman told The Royal Gazette that meetings have been held with David Burt, the Premier, and members of the Bermuda Government.

The company plans to launch an initial coin offering this year, expected to be worth $500 million. Gold is to be used to back the cryptocurrency.

“We feel that puts us in a unique position,” said Mr Schutzman, a former top executive with PepsiCo. He spoke about Arbitrade training Bermudians and creating jobs, and said the company could eventually have 400 employees on the island.

Arbitrade was this morning set to hold a media conference call to detail progress towards establishing itself as a “world-class cryptocurrency exchange and coin company”.

You must be registered or signed-in to post comment or to vote.

Published Jun 28, 2018 at 8:00 am (Updated Jun 27, 2018 at 9:17 pm)

Arbitrade could bring hundreds of jobs

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    • "Who do you think will win the World Cup?"
    • Argentina
    • 5%
    • Belgium
    • 12%
    • Brazil
    • 20%
    • England
    • 16%
    • France
    • 6%
    • Germany
    • 9%
    • Portugal
    • 25%
    • Spain
    • 8%
    • Total Votes: 4375
    • Poll Archive

    Today's Obituaries