Omniex, an institution-oriented trading platform has expanded its staff by onboarding high profile experts that include former executives of major U.S. financial regulators. The crypto trading firm has appointed Federal Deposit Insurance Corp (FDIC) chair Sheila Bair and former U.S. Securities and Exchange Commission (SEC) chairman, Arthur Levitt as members of the board of advisors.
Maartje Bus has joined Omniex as director of strategic partnerships, the crypto trading firm announced. She was the former head of capital markets at Thomson Reuters. The former head of KCG’s regulatory affairs, Tom Eidt has been appointed as chief compliance officer and general counsel.
Levitt claimed that institutional investors need purpose-built technology in order to solve the challenges that they encounter today. He said that they also must be well equipped to handle the hidden obstacles that they are likely to encounter in future in this new asset class. Levitt was the 25th and longest-serving chairman of the SEC from 1993 to 2001.
Presently Levitt serves as an advisor to a number of other firms such as BitPay, Blockchain, Mirror, PeerIQ, and SoFi. Earlier, he was working as a senior advisor to The Carlyle Group and Goldman Sachs.
Sheila Bair, former FDIC executive emphasized on the fact that the crypto industry is a revolutionary, global asset class that is presently in its infancy. According to her, the world is on the cusp of regulatory thinking on how to regulate and approach crypto assets. She served as a chair of the U.S. banking regulator from 2006 to 2011. She portrayed a major role in the government’s response to the financial crisis of 2008.
As reported by Cointelegraph, Bair claimed in June that while cryptocurrencies like Bitcoin (BTC) can be a way of improving the existing monetary tools, she feels that Bitcoin has miserably failed as a means of payment. She further stated that the Federal Reserve needs to consider the relative benefits of issuing of its own digital currency.
Founded in 2017, Omniex is an office investment and trading platform for institutional investors. The firm has raised $10 million in seed funding from investors such as Sierra Ventures, British hedge fund billionaire, Allan Howard, and Digital Currency Group.
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