Gregory Klumov, founder and CEO of Stasis, a platform that allows users to legally digitize any type of financial asset in a secure and transparent manner, says that after creating the framework for digital assets in Malta, he made a strategic shift into entrepreneurship in order to develop crypto-related products for institutional investors.
Klumov, a Ph.D. from Moscow Institute of World Economics and International Relations, recently shared his views and insights with CryptoSlate. He revealed that his company has developed the world’s first blockchain-based Euro, which has been launched on Statis, a fiat-tokenization platform.
You’ve mentioned that you’re a specialist in alternative asset management. Please tell us about these types of assets and how they impact the existing financial system.
Gregory Klumov (GK): Real estate, stocks, and bonds are considered standard investments, meanwhile, alternatives are everything else and they are big enough for a separate name. Things like art, wine and rare cars fall into illiquid alternatives; assets like ETFs, mutual funds and select hedge funds are the liquid alternatives.
There is a big trend of capital allocation into alternative assets because of the era of low interest rates globally. The value of these assets is also quite significant relative to the standard investable universe. For example, the global real estate market is worth $217 trillion, global stocks are worth $85 trillion, while assets like hedge funds or commodities are worth $3 trillion and $20 trillion, respectively.
You founded a high-speed internet service provider, called BNET, when you were only 15 years old. Tell us about what motivated you to do this and how you developed this service.
GK: Internet gaming didn’t exist back then and I wanted to be able to play a game with my neighbor (i.e.