A prominent former executive at financial services company Jefferies Group has left the world of forex trading for the emerging realm of cryptocurrencies.
Ray Kamrath, who until last month was the Global Head of Foreign Exchange at Jefferies, a unit of Leucadia National Corp, is joining blockchain-related startup Rubicon Markets which is looking to create a cryptocurrency derivatives exchange and issue a digital token.
Ray has taken on the role of chief marketing officer at Rubicon Markets, which he co-founded in January 2018 alongside the firm’s current CEO Andrew Lawrence and CTO Charlie Walden.
On his rationale for choosing to join Rubicon Markets, Kamrath explained that after a successful career in banking and brokerage industries, he believes “cryptocurrencies are the future of the capital markets and the economy at large.”
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On top of this, he mentioned the tremendous business opportunity to disrupt the financial services using blockchain powered technology. “It was too good an offer to refuse,” Kamrath said
Kamrath has a long track record of serving with major companies in the foreign exchange space, part of a lengthy career spanning over 20 years.
In addition to his 3-year tenure with Jefferies, Mr. Kamrath co-founded Faros Trading Faros Trading, the institutional FX brokerage subsidiary of FXCM. He served as Faros CEO for nearly six years until the firm was acquired by Jefferies back in 2015. Other stops also include Head of Commodity and Currency Division of Goldman Sachs and Board Member at FXall, the Thomson Reuters’ global FX trading platform.
So after more than two decades, the FX veteran changed course and decided to join a blockchain startup.
Rubicon Markets develops trading and exchange technologies for use in the cryptocurrency space. Like a number of crypto startups that have cropped up recently, the relative newcomer to the industry plans to build and operate liquid derivatives exchanges for use by ecosystem participants.