Japan-based cryptocurrency startup FXcoin has hired a former Deutsche Bank foreign exchange dealer Yasuo Matsuda as its senior strategist. This is the firm’s 15th hire of experts who have worked for major traditional banking institutions.
FXcoin, which is currently seeking regulatory approval to exchange cryptocurrencies including Bitcoin, was founded by its CEO Tomoo Onishi. Matsuda will be in charge of providing research on digital tokens and daily reports on the market moves.
Matsuda worked for Deutsche Bank from 2012 until June of this year. Onishi himself quit his job as a currency sales executive at the German bank in December last year and since has hired some 15 professionals from his former employer as well as Nomura Holdings, Mitsubishi UFJ Financial Group and HSBC Holdings.
Japan reviews various crypto exchange applications
Japan’s regulatory body, Financial Services Agency (FSA) is reviewing applications from companies including FXcoin for crypto exchanges.
Onishi says he has plans to hire another five experts from international financial institutions once FSA approval is granted. “We are trying to do all we can while we’re waiting for registration,” he adds.
FXcoin will provide users with monthly charts and technical analysis on cryptocurrencies as well as digital tokens articles two times a month from independent researcher Taisuke Tanaka, who was a former chief foreign exchange strategist and head of Japan fixed-income research at Deutsche Bank.
“Investors won’t be able to take action unless they know what happened in the market when they were asleep,” Onishi concludes.