Deutsche Bank Institutional Trader Joins Japanese Crypto Startup
By Helen Partz
A former Deutsche Bank trader has joined Japanese crypto exchange-startup FXcoin Ltd., Bloomberg reports September 3.
According
to the announcement, Yasuo Matsuda, an institutional trader from
Deutsche Bank, will join FXcoin as a senior crypto strategist starting
in September 2018. The strategist position includes providing analysis
of crypto markets and daily reports on the market’s activity.
The newly appointed 49-year old Matsuda worked as foreign-exchange dealer at the German bank from 2012 until this June.
FXcoin Ltd., founded in September 2017, is currently seeking regulatory approval from Japan’s
financial regulator the Financial Services Agency (FSA) in order to
operate “virtual currency-related business.” The startup has reportedly
applied with the regulator to exchange cryptocurrencies such as Bitcoin (BTC) under a licensing system that was adopted last year.
FXcoin’s
founder and CEO Tomoo Onishi is a veteran employee at Deutsche Bank,
having more than 12 years of experience in the bank’s FX division before
he left his job in December 2017.
The crypto startup has reportedly attracted a number of former institutional employees, including trading experts from HSBC, Nomura, and Mitsubishi UFJ Financial.
In
a statement to Bloomberg, Onishi claimed that the startup is “trying to
do all [it] can” while waiting for regulators’ approval, revealing that
FXcoin plans to employ “another five people from financial
institutions,” following the upcoming approval.
Founded
in 1870 in Berlin, Deutsche Bank is considered to be one of the leading
and most influential financial institutions worldwide. Earlier this
year, Deutsche Bank’s CIO head Markus Mueller claimed that “governance,” which will legitimize crypto investments, could come in “five to ten years.”
Published in: https://cointelegraph.com/news/deutsche-bank-institutional-trader-joins-japanese-crypto-startup
See more at: MorisBeracha.com
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