Hany Rashwan, born May 7, 1990, in Cairo, Egypt, is a prominent figure in the world of cryptocurrency. He is best known as the co-founder and CEO of 21.co, the parent company of 21Shares.
Rashwan has established himself as a significant player in the crypto industry, driving innovation and growth through his ventures.
Key Insights
- Early Passion for Technology: Introduced to programming by his grandfather at age 11, Rashwan’s tech journey began early, developing popular gaming sites by age 14.
- Educational Foundation: Studied economics and computer science at Ohio State University and Columbia University, forming the base for his fintech and crypto ventures.
- Successful Entrepreneur: Founded several companies, including Ribbon and Payout, before moving into the crypto space with 21.co, showcasing his knack for innovation.
- Crypto Pioneer: Co-founded 21.co and 21Shares, launching groundbreaking crypto ETPs and making crypto investing accessible globally.
- Resilient Leader: Secured significant funding for 21.co and continued expanding its product line, even during market downturns, demonstrating strong leadership and vision.
- Advocate for Crypto Future: Remains optimistic about the future of crypto, focusing on scaling ventures like Amun DeFi to navigate evolving market dynamics.
Early Life and Education
Growing up in Alexandria, Rashwan’s fascination with technology began early. His grandfather, a cryptography expert, introduced him to computers and programming when Rashwan was just 11. By the age of 14, he had already created two gaming sites, one of which attracted over 600,000 visitors annually.
Rashwan’s academic journey took him from Ohio State University to Columbia University, where he studied economics and computer science. His early achievements earned him a spot on the Forbes 30 Under 30 list in 2017 for his work with Payout, a fintech company he founded before 21.co.
Career Highlights
1. Ribbon and Payout
Before diving into the crypto world, Rashwan founded Ribbon and Payout. Ribbon was a payment technology company that allowed users to sell products online via short URLs, simplifying the checkout process. Despite its brief existence, Ribbon gained attention from major tech publications. Payout, founded in late 2014, provided real-time payment solutions for online lenders and quickly became successful, processing over $50 million in loans within its first two years.
2. 21.co and 21Shares
In 2018, Rashwan co-founded 21.co, which later became known as 21Shares. The company’s mission was to make cryptocurrency investment more accessible. 21Shares launched its first physically-backed cryptocurrency Exchange-Traded Product (ETP), HODL, on the SIX Swiss Exchange in November 2018. This move set the stage for 21Shares to become a leading issuer of crypto ETPs. Rashwan’s strategic vision led to significant developments, including the launch of various crypto ETPs and expanding the company’s presence in the metaverse.
3. Achievements in 2022 and Beyond
In early 2022, Rashwan introduced the world’s lowest-cost physical Bitcoin ETP on the SIX Swiss Exchange, followed by other crypto ETPs. His efforts in expanding 21Shares’ offerings, including a focus on non-fungible tokens (NFTs) and the metaverse, significantly boosted the company’s profile. By September 2022, Rashwan had secured $25 million in funding for 21.co, raising its valuation to approximately $2 billion.
4. Looking Ahead
Despite a challenging year for many in the crypto space, Rashwan remains optimistic about the future. He continues to focus on expanding 21Shares’ range of ETF products and believes in the enduring potential of the cryptocurrency market. Rashwan’s commitment to his ventures and his strategic foresight keep him at the forefront of the crypto industry.
Net Worth (2024)
As of 2024, Hany Rashwan’s net worth reflects his significant impact on the cryptocurrency world. With 21.co’s impressive growth and his role in pioneering crypto investment products, Rashwan’s financial standing is a testament to his entrepreneurial success.
Hany Rashwan Life’s Timeline
- 1990: Born on May 7 in Cairo, Egypt; later raised in Alexandria.
- 2001: At the age of 11, Rashwan’s grandfather, a cryptography expert, introduces him to computers and programming.
- 2004: At 14, he develops two gaming sites, with one site attracting 600,000 unique visitors annually.
- 2009: Moves to the United States for high school and subsequently enrolls at Ohio State University to study economics and computer science.
- 2012: Transfers to Columbia University, further pursuing his interest in economics and technology.
- 2014: Launches Payout, a fintech company providing real-time payment solutions for online lenders. The company later processes $50 million in loans within two years.
- 2017: Recognized in Forbes’ 30 Under 30 list in the Enterprise Technology category for his work with Payout.
- 2018: Co-founds 21.co (initially Amun), launching 21Shares and the first physically-backed cryptocurrency ETP (HODL) on the SIX Swiss Exchange.
- 2019: Raises $4 million in seed funding for 21.co. The company expands its offerings and product line, including the Amun platform for token issuance.
- 2022: Launches the world’s cheapest physical Bitcoin ETP and other crypto ETPs, including those based on NFTs and the metaverse. Secures $25 million in funding for 21.co, achieving a valuation of $2 billion.
- 2023: Despite market volatility, continues to expand 21Shares’ ETF products and maintain a positive outlook on the future of cryptocurrency. Focuses on scaling Amun DeFi to provide access to new blockchain ecosystems.
- 2024: Rashwan’s net worth continues to grow, reflecting his success in the crypto industry and his commitment to innovation and growth in financial products.
Hany Rashwan’s life is a testament to his dedication, foresight, and passion for technology and finance. His journey from a young programmer to a significant player in the global cryptocurrency market showcases his entrepreneurial spirit and unwavering commitment to advancing the industry.
Conclusion
Hany Rashwan’s journey from a young tech enthusiast in Alexandria to a leading figure in cryptocurrency is marked by innovation and perseverance. His work with 21.co and 21Shares has reshaped the investment landscape for crypto assets, positioning him as a key player in the industry’s future.
