A digital prime brokerage firm has recently bolstered its UK and European sales operations by employing Steve Thomas, an experienced executive with a long history in foreign exchange and digital asset markets. This addition comes as institutional interest in cryptocurrency trading escalates.
Steve Thomas’s appointment follows his tenure at Laser Digital, where he specialized in fixed income, currency, and commodities sales. With over twenty years in the financial markets, he previously held significant roles in notable companies such as Menai Financial Group, CBOE Global Markets, and Hotspot FX. His experience includes a notable five-year stretch directing FX sales across Europe, the Middle East, and Africa at CBOE, focusing on their largest client base.
This hiring coincides with the onboarding of another seasoned professional, Kevin Gillespie, just a month prior in a similar position. Both Thomas and Gillespie share a history of collaboration at various firms and will work together to identify new business avenues for the London-based brokerage. The company is also looking to expand its reach in the Asia-Pacific region, having appointed Stanislav Bunimovich as Managing Director there to lead efforts in response to increasing institutional demand for cryptocurrency.
The landscape for institutional crypto services is becoming increasingly competitive as digital asset brokers vie for attention among traditional finance entities exploring cryptocurrency trading opportunities. This firm seeks to distinguish itself by offering various products, including contracts for difference on digital assets, foreign exchange products, and spot crypto trading.
Thomas’s extensive background, starting at Saxo Bank where he climbed from various positions to co-head of FX international sales, positions him well to contribute to the firm’s growth. He has a proven track record for revenue generation, a key factor in the decision to bring him on board.
Moreover, the company maintains multiple regulatory licenses which could further facilitate its appeal to institutional clients. These include authorizations from the UK’s Financial Conduct Authority, registrations with Denmark’s financial supervisory authority, and a virtual asset service provider license from Dubai’s digital asset regulator. This robust regulatory framework is seen as advantageous for attracting institutional interest, particularly as more institutions seek direct access to digital asset markets.
As Thomas acclimates to his new role, he expressed enthusiasm about the prospects of working alongside familiar colleagues and noted the impressive development of the brokerage under its current leadership, highlighting their commitment to innovation, competitive pricing, and a diverse product range.
Founded in 2018, the firm has established a global presence with operations across various jurisdictions while also offering technology solutions through its XplorDigital suite tailored for other brokers looking to integrate cryptocurrency services into their offerings.
Overall, the combination of seasoned leadership, a solid regulatory foundation, and a commitment to innovation positions this digital prime brokerage firmly within a rapidly evolving market, ready to capitalize on the growing demand for cryptocurrency services from institutional players.