Cryptocurrency custody provider BitGo has appointed Nick Carmi, a forex trading veteran, as its head of financial services.
He is joining the Palo Alto-headquartered firm from Tower Research Capital, a high-frequency trading firm, where he was the global head of FICC business. He is bringing 25 years of experience to his new position.
Commenting on the major appointment, Mike Belsh, chief executive at BitGo, said: “Nick brings the right type of experience for BitGo to bridge between the complex technology of digital assets and the traditional financial markets. Nick brings a wealth of industry knowledge and has built these types of systems before.”
BitGo is aggressively expanding its services to capture the crypto market. Earlier this year, it added the support for Blockchain Capital’s BCAP security tokens to its custody platform with over 100 tokens.
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“Nick will be critical to our future progress, helping us meet the existing needs of traditional clients while also helping us build a better financial market of the future in ways that can only be done with digital assets,” Belsh added.
A seasoned leader in the financial industry
The May 9 announcement outlined that, at his previous leadership role, Carmi oversaw operational risk, prime brokers’ leverage, and counterparty trading limits, developing access to new products including NDFs, CCY options, and cryptocurrencies.
Prior to Tower Research, Carmi served Deutsche Bank as director of listed and OTC clearing sales and was a part of the setup team of the fixed income prime brokerage for treasury and repo services and helped to build an OCC clearing service.
Being a post graduate in applied mathematics and statistics, he started his carer in the financial industry and also worked for Barclays, Lehman Brothers, UBS, and Credit Suisse at various points.
BitGo is one of the leading crypto wallet and custody service provider to institutional clients. The firm recently gained service organization control (SOC) 2 Type 2 certification from one of the Big Four auditors which ensure the security measures taken by the platform.