ExchangeNews

Deutsche Bank’s Foreign Exchange Dealer Joins Japanese Crypto Start-Up

FSA’s New Screening Requirements

Bloomberg reported on September 3 that a former Deutsche bank foreign exchange dealer has been hired by FXcoins Ltd.

FXcoin Ltd is a Japan crypto exchange start-up, established in September 2017.  The firm has recently announced that Yasuo Matsuda will be joining the exchange as a senior crypto strategist in the next few days. The role of Matsuda includes providing a daily analysis and report of crypto markets.

Who was Yasuo Matsuda?

Matsuda (49years) had worked as an institutional dealer for Deutsche bank from 2012 to June of this year. The appointment by FXcoin indicates that they are working on building a professional team that can guaranty viability.

FXcoin Ltd is currently awaiting approval from Japan’s financial authority- the Financial Services Agency (FSA). The approval is necessary to start operations.

The founder and CEO of FXcoin Tomoo Onishi told Bloomberg that the start-up is doing the most it can. He added that the exchange will be adding five more people from financial institutions to the FXcoin team after approval.

FXcoin – A Japan Crypto Exchange

Onishi went further to state that he will also be publishing his own monthly analysis of the crypto market. Onishi added that he has a deal in place with independent researcher Taisuke Tanaka. Tanaka, who was formerly a strategist and researcher at Deutsche Bank for 12 years will be submitting an analysis on cryptocurrencies twice a month to FXcoins.

Furthermore, Onishi notes that all the measures FXcoins is taking to help investors get a clear picture of market. He states as follows;

“Investors won’t be able to take action unless they know what happened in the market when they were asleep

Deutsche Bank runs since 1870, and it is presently one of the most powerful financial institutions in the world.

FSA’s New Screening Requirements

Earlier reports revealed that Japan’s financial service agency (FSA) is planning on tweaking its regulatory framework for crypto exchanges. The move will mandates exchanges to submit minutes of board meetings and shareholder’s details.

However, the various recent moves by FXcoins are pointers that it plans on complying with the new requirements. Though FXcoin applied for a license way before the tweak was announced, its application would also be assessed with the new framework

Tags
Show More

Ifeanyi

Ifeanyi Egede is an experienced and versatile blockchain/crypto writer and researcher on with tons of published works both online and in the print media. He has close to a decade of writing experience. When he is not writing, he spends time with his lovely wife and kids. Learn more about how Ifeanyi Egede could be of help to your business.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

three × three =

Close