Hong Kong. 1st August – GSR, one of the world’s oldest and largest cryptocurrency trading firms, has announced the appointment of Xin Song as a specialist advisor to oversee expansion into mainland China.
With this move, GSR, which already has a presence on three continents and employs a staff of over 30 financial specialists and traders, will be focusing expansion efforts on institutional counterparties in China that have a need for advanced cryptocurrency products and services.
Song will work with the Global Markets team, leading strategy in Asian markets and continuing to expand GSR’s product offering in Derivatives and Structured Products. He has extensive experience in cryptofinance and derivatives, most recently as CEO of Magpie Capital, a digital asset investment firm.
“We are delighted to have Xin onboard. His in-depth experience from both traditional financial markets and the crypto industry will be instrumental in expanding our reach in the Chinese market,” says Cristian Gil, Co-Founder, GSR.
Prior to Magpie Capital, Song was Head of Product at DealGlobe, a financial advisory firm. He started his career at BlackRock in the UK, where he was a portfolio manager with the European Scientific Active Equity team. He holds a BSc in Mathematics from London School of Economics (LSE), an MBA from London Business School, and is a CFA charterholder.
“I look forward to bringing GSR’s leading technology, innovative products, and renowned service offering to an expanding number of institutional counterparties in China,” he says.
GSR recently unveiled new cryptocurrency derivative products that allow companies to hedge against the risk of volatility among other factors. These new derivative products, which are common in traditional markets and allow financially responsible organisations to better manage risk, will be offered in China – where they have already attracted substantial interest.