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Crypto Prime Brokerage Floating Point Group Hires Former JPMorgan, Wells Fargo Exec

Mushu Butt by Mushu Butt
August 24, 2022 - 3:56 pm
in altcoins news
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Peter Eliades, a veteran banking executive at J.P. Morgan and Wells Fargo, has been named as the Head of Distribution for the cryptocurrency prime brokerage firm known as Floating Point Group (FPG). FPG possesses an institutional trading desk and settlement platform. Eliades will be joining a leadership team that is primarily composed of technical and crypto-native members.

Having worked in the financial industry for more than two decades, holding positions such as Head of Americas Trading for J.P. Morgan and heading up Electronic Sales and Coverage at Wells Fargo. Eliades offers an unparalleled level of institutional expertise to his position at FPG. Eliades will be responsible for managing the company’s sales and business development teams in the United States and the Asia Pacific region. He will report to company co-founder Kevin March.

According to John Peurifoy, FPG co-founder & CEO, “Peter has built world-class electronic trading businesses for decades and understands the role that crypto will play in shaping the future of global financial systems. Bringing Peter on is a ground-breaking moment for our team, as we continue to see demand for best-in-class institutional offerings from our clients and potential participants.”

Rapid Growth With The Launch Of Prime Brokerage Platform

Peter brings with him an understanding of how to construct a top-tier institutional team, which will assist in bringing in new participants in the cryptocurrency market. FPG possesses a strong technical and crypto native staff, and Peter adds a dimension to the company’s ability to more effectively target asset managers transitioning into crypto and enable them to understand the possibilities that are presented by digital assets.

The appointment is part of FPG’s ongoing rapid expansion across the company, and it comes at a time when the company is working to boost its employees in order to support the recent launch of FlowVault, which is FPG’s prime brokerage platform. Eliades is familiar with the institutional clientele served by Floating Point Group due to his prior work with significant hedge funds, asset managers, and corporate clients.

Floating Point Group is developing a safe and user-friendly cryptocurrency access system. FPG makes the operations that are necessary for asset managers to execute cryptocurrency-centric strategies at a scale significantly easier to do. The company has cryptocurrency insurance and is regulated in the United States. Floating Point Group is supported by Tribe Capital, Coinbase, Naval Ravikant, and a large number of institutional investors.

Scaling Trading And Investment Activities

FlowVault, a new solution from Floating Point Group, allows console and API-based management of assets across exchanges with a single account. Users have access to a consolidated view of their assets across all venues. It is possible to quickly shift assets while incurring a modest amount of operational overhead if the transfer features are user-friendly and do not sacrifice key controls. With FlowVault, users can focus on increasing their trading and investment activities while experts take care of their operation’s efficiency and security.

Investing in cryptocurrencies poses structural risks that are orders of magnitude bigger than other asset classes due to hacks, scams, and human error. Visibility of your assets is distorted, financial controls are inadequate, and errors are irreparable. Managing the custody and movement of cryptocurrencies during trading entails a high operating expense and greater risk in the current environment. FlowVault minimizes these risks and reduces the operational costs associated with trade by giving operations teams a single, secure interface to their assets.

Tags: AltcoinsCryptoCryptocurrency
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Mushu Butt

Mushu Butt

Mushu Butt is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media.In addition to being a skilled content writer, Mushu is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushu enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for Blockchainreporter.

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