Virtu Financial has appointed Scotte Moegling as Head of Business Development for Digital Assets, the electronic market maker announced this week.

Moegling brings over two decades of experience in financial markets to his new role at Virtu. He previously served as Global Head of OTC Sales at Amsterdam-based Flow Traders, where he spent nearly three years overseeing foreign exchange, precious metals, contracts for difference, and digital asset operations.

Virtu Financial Hires Digital Assets Business Development Chief

The hire signals Virtu's continued expansion into cryptocurrency markets. Moegling will be based in Austin, Texas, and his responsibilities will span digital assets, FX, precious metals, CFDs, and ETFs according to his professional profile.

Before joining Flow Traders in 2021, Moegling held senior sales positions at several major financial institutions. He spent six years at Citigroup in various FX prime brokerage roles across New York and London, including Head of European Sales for FX Prime Brokerage.

“I’m happy to share that I’m starting a new position as Head of Business Development for Digital Assets at Virtu Financial,” Moegling wrote on his LinkedIn profile.

His earlier career included nearly two years as Director of Prime Services Sales for the Americas at NatWest Markets, and leadership roles at London Capital Group and FXCM Pro spanning operations and liquidity management.

This is another personnel change following Virtu’s promotion of CTO Aaron Simons to CEO at the end of July, when the company also announced its second-quarter results, including nearly $1 billion in revenue.

Related: Virtu Partners With Limina on Post-Trade Platform to Address T+1 Settlement Compliance Challenges

Background on Digital Asset Growth

Virtu Financial, one of the largest electronic market makers globally, has been building its digital asset capabilities as institutional interest in cryptocurrencies continues growing. The firm's traditional strengths in high-frequency trading and market making position it well for crypto market expansion.

Electronic trading firms have increasingly hired experienced professionals from traditional finance to bridge conventional markets with digital assets. Moegling's background across multiple asset classes - from FX to precious metals - fits this trend of bringing cross-asset expertise to crypto operations.

The appointment comes as regulatory clarity around digital assets improves in key markets, potentially opening new opportunities for institutional market makers like Virtu.