A Japanese startup cryptocurrency exchange established by a former Deutsche Bank AG veteran has hired another alumnus of the premier German bank in order to provide research on digital tokens. Yasuo Matsuda,49, an ex-foreign trader at Deutsche Bank from 2012 until June 2018, will participate in FXcoin as a senior strategist beginning in September 2018. His position requires the authorship of daily articles on the market’s activity and a report of crypto markets.
FXcoin Ltd., established in September 2017, is currently endeavouring for the regulatory permission of Japan’s financial regulator, the Financial Services Agency (FSA), in order to operate a “virtual currency-related business.”
Last year, the startup has applied with the regulator to trade cryptocurrencies under a licensing system. Tomoo Onishi, FXcoin’s founder, and CEO is a former employee at Deutsche Bank, having more than 12 years of field experience in the bank’s FX department before he resigned in December 2017. After his resignation, Onishi hired about 15 specialists from the bank, including his previous employer and Nomura Holdings Inc., Mitsubishi UFJ Financial Group Inc. as well as HSBC Holdings Plc.
In an interview, Onishi stated, “We are trying to do all we can while we’re waiting for registration,”. After receiving the approval, FXcoin will employ another five people form financial institutions. Established in 1870 in Berlin, Deutsche Bank is one of the leading and most powerful financial establishments worldwide.
In the beginning of this year, Markus Müller, Deutsche Bank’s CIO stated that “governance”, which will legalize crypto investments, could happen “five to ten years.” In late December, Chief International Economist of Deutsche Bank Torsten Slok claimed uncertainty towards Bitcoin, wherein he predicted a potential crash of the cryptocurrency and significant risks for the global market in 2018.
Author: Berna Bayindir
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