Former top manager of Deutsche Bank launches bitcoin exchange
Ex-manager of a German bank intends launch a bitcoin exchange in May of this year.
The founder believes that at least digital assets will be differ from traditional ones, there are no absolutely safe tools on the market.
Ex-manager of a large German bank decided to change his career, totally focusing on cryptocurrencies.
Former top sales manager of a large German bank Deutsche Bank AG Tomo Onishi stated on the completion of the development of our own bitcoin-exchanges. About this Onishi wrote on the platform’s official website.
Later two of the year after institutions, the Japanese exchange FXcoin is ready to begin providing services for the provision of bitcoin trading starting in May of this of the year. It is noted that the exchange has already begun accepting applications from clients wishing to open accounts.
Onishi considers, that methods to support the economy affected by the coronavirus pandemic, will lead flooding the markets with cash means. As a result such “Flood” part of money will be on market digital currencies.
After 30% collapse bitcoin last month, Onishi admits that on cryptocurrency the market has no absolute safe asset against the crisis.
“There are no absolutely safe assets,” Onishi said in an interview with Bloomberg.
However, the ex-manager of a German bank believes that digital currency will take a completely different path, than ordinary assets long term. it, by opinion Onishi, will make them worthy of inclusion in an investment portfolio to diversify risks.
“I bet on the rise in prices of digital currencies,” Onishi said.
Thanks to the financial institution SBI Holdings, Onishi Exchange has already entered the number of 23 exchange operators registered in accordance with the requirements of the Japan Financial Services Agency (FSA).
After a series of high-profile hacks of cryptocurrency exchanges, the Japanese authorities tightened controls over industry.
In the future, FXcoin plans to add more to the listing digital assets including XRP and Litecoin, and ultimately create a swap market by offering investors tool for volatility protection prices, noted chapter Fxcoin.
Already before the end of the current of the year, even despite on mass layoffs on cryptocurrency market, Onishi intends to increase the number staff from 36 to 50 people.
Despite the fact that the exchange does not have exact figures for self-sufficiency, in company plan to start making profits by the end of next year.
Formerly a leading foreign exchange broker at Deutsche Bank AG, Yasuo Matsuda also left bank to join Onishi startup.
What do you think? Is it relevant to launch a cryptocurrency exchange when market already full of such venues? Share with us with your thoughts in the comments.
All information, contained on our website, published on the principles of good faith and objectivity, and exclusively with familiarization aim. Reader independently carries full responsibility per any actions, committed im on based on information, received on our website.