Merchant bank GDA Capital, part of the GDA Group, and serial entrepreneur Scott Melker, known as The Wolf of All Streets, have announced a co-investment in the blockchain-based platform Elitium, to accelerate the buildout of their wealth management tools and global adoption of the native EUM digital asset. Elitium is introducing a suite of wealth management tools next quarter that provide users with interest-bearing products, access to tokenized commodities and other assets, and direct investment into digital currencies, all through one convenient dashboard.
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Elitium’s preview app was launched two weeks ago, which led to GDA Capital’s strategic investment into Elitium along with continuing the existing collaboration between the two firms. In addition to spearheading this new round of capital investment into Elitium, GDA Capital will become the North American sponsor firm for the asset offering part of the Elitium platform. This expanded partnership will involve GDA Capital performing due diligence on potential assets applying to be listed on Elitium and work to guide them through the listing process if successful, all the while ensuring only the best projects get issued. This also comes at a time when institutional interest around digital assets and tokenization has never been higher.
“GDA Capital has already established a strategic alliance with Elitium and helped increase awareness of its native cryptocurrency EUM and add to the funnel of high value asset offerings to take place in the new year. This coupled with our new financial contribution to the project helps Elitium develop their key platform features and expand globally, while also introducing Elitum to our own network of investors, users, advocates, and asset issuers” said GDA Capital’s co-founder Michael Gord.
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“Assets such as luxury collectibles and real estate have performed extremely well in 2020, making asset owners wealthier while many people are struggling to get by. Elitium’s tokenization platform makes these asset investment opportunities available to a much wider audience, and it’s only one of many exciting features,” said Scott Melker.
“We have had a lot of synergy with the GDA Group and are already working on a number of initiatives in blockchain and with digital currencies. With this new capital infusion, we aim to expand Elitium globally in the most efficient way,” said Elitium Founder and CEO Raoul Milhado.
Scott Melker is a well-established crypto advocate and an early adopter, as well as a renowned DJ. Last month, Milhado and Gord announced their alliance publicly during a quarterly Family Office Summit, which was the first gathering of private wealth hosted in Decentraland. The trio will also focus on the impact of blockchain on wealth management and on digital asset adoption.
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