Phoenix Group Names Munaf Ali as New CEO to Drive Cryptocurrency Adoption

Phoenix Group, a trailblazer in cryptocurrency, blockchain, and Web 3 technologies, is proud to announce the appointment of Munaf Ali as its new Chief Executive Officer (CEO). As the first home-grown cryptocurrency firm to be listed on the Abu Dhabi Securities Exchange, Phoenix continues to push boundaries in the digital finance sector. Munaf, who has been with the company as Group Managing Director and co-founder, brings a wealth of experience in corporate institutional management, positioning him perfectly to seize emerging opportunities in the fast-evolving cryptocurrency market.

Transition of Leadership: Seyed Mohammad Alizadehfard's New Role

Seyed Mohammad Alizadehfard (Bijan), the current CEO and co-founder of Phoenix Group, will step down from his role to focus on expanding and managing his investment fund, Cypher Capital. However, Bijan will remain actively involved with Phoenix Group as a major shareholder and a trusted advisor, ensuring a smooth transition and continued guidance in the company’s strategic direction.

Munaf Ali's Expertise in Capital Markets

With over 20 years of experience in capital markets, including his tenure at Citigroup, Munaf Ali possesses a deep understanding of both traditional and digital finance. This expertise will be crucial as Phoenix Group explores new growth opportunities. Munaf’s leadership will focus on strengthening relationships with institutional players and tapping into the vast potential of the cryptocurrency and blockchain sectors. Phoenix Group is already collaborating with leading investment banks and crypto advisors to explore dual listing opportunities in favourable international markets for 2025.

“I want to extend my deepest thanks to Bijan for being my co-founder and for his successful stewardship in guiding Phoenix Group from a private company to our listing on the ADX. We have worked together since we founded Phoenix and grown it into a listed billion-dollar company. Our strong relationship will continue, a CEO could not wish for a better advisor who will continue to bring opportunities to our door.”

“Taking on the role of CEO at Phoenix Group represents an incredible opportunity to lead this forward-thinking company during a time of unprecedented growth,” continued Munaf. “My extensive experience and background in banking and finance equips me to navigate the complexities of our industry as the worlds of traditional and digital assets move closer together, allowing us to position Phoenix Group for success. Looking ahead, we are exploring dual listing opportunities including on NASDAQ in 2025 as we continue to build our global presence.”

Strategic Timing of the Leadership Change

This leadership transition comes at a pivotal time for Phoenix Group, building on the company’s exceptional achievements over the past year. Since its listing, Phoenix has been at the forefront of integrating traditional finance with digital assets, as demonstrated by its recent sponsorship of Abu Dhabi Finance Week. This event underscored Phoenix Group’s critical role in the evolving financial landscape and its commitment to driving innovation in the digital asset space.

Seyed Mohammad Alizadehfard, the outgoing CEO and co-founder, will continue to play a vital role in the company as a valued advisor and shareholder. “While I transition from the CEO role, I am dedicated to supporting Munaf and the team as we embark on the next stage of Phoenix’s journey. My knowledge and expertise in cryptocurrency, combined with Munaf's institutional background, will ensure that Phoenix Group remains at the forefront of our industry both here in UAE and on the global stage” he stated.

Phoenix Group's Future Growth Strategy

Looking ahead, Phoenix Group is well-positioned for continued growth, leveraging the combined strengths of Munaf Ali’s corporate experience and Bijan’s expertise in deal-making within the cryptocurrency industry. Together, they will ensure that Phoenix Group remains at the cutting edge of innovation and expands its global presence in the rapidly evolving world of digital finance.