bitcoin Bitcoin
ethereum Ethereum
polkadot Polkadot
utopia Crypton
Show details
Deutsche Bank's Yasuo Matsuda Joins Japanese Crypto-Startup FXcoin

Deutsche Bank’s Yasuo Matsuda Joins Japanese Crypto-Startup FXcoin

Reading Time: 2 minutes by on September 5, 2018 Bitcoin, Development, Exchange, Investment, News
Follow by Email

FXcoin Ltd., a Japanese cryptocurrency startup which was founded by a Deutsche Bank AG veteran brought on Yasuo Matsuda as a senior cryptocurrency strategist. This signals another development in the space between traditional finance and cryptocurrencies to attract more people to fintech.

Traditional Expertise in new Markets

FXcoin was created to research digital tokens to boost investor confidence when investing in digital financial products. Research organizations like this are becoming crucial in a rapidly complicating crypto space with high risks and high rewards. Given that research into this space necessitates a great deal of specialized knowledge in both traditional financial markets and the emerging fintech space, professionals like Yasuo Matsuda are hot commodities.

Matsuda, 49, was a forex dealer at Deutsche Bank during 2012. His experience with rapidly changing markets will help him in his role at FXcoin where he will have to give daily reports on fluctuations in the cryptocurrency market. This is no small task in a time when cryptocurrencies and blockchain technology are proving utility to the wider world while trying to find a constant market valuation.

FXcoin is only one of many crypto startups which have tapped traditional financial industry professionals. The firm’s CEO Tomoo Onishi brought 15 financial experts from Deutsche Bank, as well as HSBS, Mitsubishi UFJ Financial Group Inc, and Nomura Holdings Inc.

Bringing talent from global banking into the crypto space is an attempt to bridge the divide between traditional financial markets and fintech. The hope is that Wall Street know-how will provide a reliable barometer for investment conditions surrounding new digital tokens.

Possible Partnerships

The Japanese Financial Services Agency is currently looking at collaboration with firms like FXcoin to operate cryptocurrency exchange under a licensing system created in 2017. In spite of Japan’s robust cryptocurrency scene, $500 million in assets were stolen from Coincheck Inc, which has increased Tokyo’s caution in dealing with crypto. Upon approval by the Financial Services Agency, FXcoin will be hiring another five professionals from top financial institutions.

To increase transparency and accountability Tomoo Onishi will issue his analysis on the cryptocurrency market each month. He has also enlisted the help of independent researcher Taisuke Tanaka, a foreign-exchange specialist and previous head of fixed-income research at Deutsche Bank. Tanaka will provide articles related to digital tokens twice monthly.

FXcoin hopes to create a reliable source for information on digital currencies, which itself is a valuable commodity in an increasing marketplace. FXcoin hopes to cover the knowledge gap between the public sector and private sector as well as traditional and digital spaces. Hopefully, this will attract more customers to financial technology markets while insulating them from potential risks.

Like BTCMANAGER? Send us a tip!
Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4
Join our telegram channel