# XBTO

XBTO is an Asset Manager based in Miami, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Miami, United States
- **Region:** North America
- **Address:** Miami, FL, United States
- **Founded:** 2015
- **Assets under management:** Undisclosed
- **Website:** xbto.com
- **LinkedIn:** https://www.linkedin.com/company/xbto

## Regulatory record

- **Reports private funds:** No

## About

XBTO is a regulated firm operating in capital markets and asset management within the digital asset industry. It provides digital asset management, capital markets services, and a platform for trading, custody, and white-label solutions. Founded in 2015, XBTO is based in Hamilton, Bermuda.

## Sectors

- Digital Assets
- FinTech
- AI/ML
- Private Credit

## Offices

- New York
- San Francisco
- Paris
- Singapore
- London
- George Town
- Taipei
- Los Angeles
- Atlanta
- Sheridan

## People

- Philippe Bekhazi — CEO & Co-Founder
- Nicola Duke — Chief Operating Officer

## Questions

### How is XBTO structured and regulated?

XBTO's core asset management entity is domiciled in Bermuda and licensed by the Bermuda Monetary Authority under the Digital Asset Business Act and as a licensed fund administrator. The firm also maintains operating subsidiaries and investment teams in the United States, Europe, and Asia-Pacific. This Bermuda-centric regulation is distinct from the more common Cayman Islands fund structures used by many crypto-native peers, subjecting XBTO to ongoing supervisory capital and governance obligations.

### What is XBTO's primary investment strategy today?

XBTO operates across four business lines: digital-asset fund management (systematic and discretionary strategies), crypto-backed private credit lending, venture capital investments in early-stage blockchain and Web3 infrastructure companies, and institutional staking and tokenization infrastructure. The firm's strategic communications emphasize a deliberate transition from proprietary market-making toward a diversified institutional asset management and credit platform.

### Does XBTO raise external capital?

Yes. XBTO manages external institutional capital through its Bermuda-licensed asset management entity, offering commingled fund structures and managed accounts. The firm accepts mandates from institutional investors and family offices allocating specifically to digital-asset strategies, including credit and venture portfolios.

### What is XBTO's track record in private credit?

XBTO has operated a private credit arm that provides over-collateralized, dollar-denominated loans secured against digital assets. This practice has been active across multiple credit cycles since at least 2018. The firm has publicly stated that it experienced zero credit losses through the 2022 crypto credit crisis and subsequent bankruptcies that affected many peer lenders (per firm communications).

### How does XBTO's venture capital program work?

XBTO Ventures makes direct equity and token investments in pre-seed to Series A blockchain-native startups, with a focus on DeFi protocol infrastructure, crypto payments, decentralized identity, and Web3 developer tooling. The venture practice operates alongside but separately from XBTO's liquid funds and credit business, drawing on the group's engineering and trading expertise for technical due diligence.

## Related profiles

- [Fundamental Labs](https://altss.com/profile/fundamental-labs)
- [Aequum Capital](https://altss.com/profile/aequum-capital)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/xbto

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology