Active Recruitment / Hirings
A company and their offerings are only as good as the team behind them. Over the past few days we have seen multiple companies within the digital securities sector announce the acquisition / hirings of new talent.
The experience brought forth by these acquisitions speaks volumes to the quality of projects they are transitioning to. Vertalo and tZERO are making themselves heard, with the progress being made from, both, a development and personnel standpoint.
The names of the individuals involved in these moves are noteworthy, not just because of the companies that they will be working with, but where they are coming from. Here is a brief look at those individuals on the move, and where they are coming from.
This United States based, ‘digital asset management platform’, has on-boarded two individuals. One as an advisor, and the other as staff.
- Thomas McInerney, Vice President of Product
- With the digital securities sector being as young as it is, very few individuals boast the experience that Thomas McInerney does. He is transitioning to Vertalo after successfully completing his role as a Co-founder and CPO at OpenFinanceNetwork.
- Tim Reynders
- As a Founder, and previous COO, of industry leading Securitize, Tim Reynders is perfectly suited to assume the role of an advisor for Vertalo.
As busy as Vertalo has been, tZERO may have been even busier in accumulating talent over the past few weeks. This United States based, FinTech company, has lured a trio of individuals to the company, with new positions being created for each.
- Brooke Navarro, Head of Issuance
- Brooke Navarro joins the tZERO team after a 10 year stint as the Managing Director at Barclays Investment Bank. This previous role makes her perfectly suited for her new one, as tZERO looks to further establish growth in the sector.
- Alexandra Sotiropoulos, Head of Communications
- As a past employee of Intermarket, Alexandra Sotiropoulos was able to gain experience working with a PR and Marketing firm which services a variety of industries.
- Michael Mougias, Head of Investor Relations
- IMAX, the Canadian film technology company, saw their VP of Investor Relations, Michael Mougias, make the move to tZERO. This transition will see him assume the same title, and a similar role, within the tZERO team.
Upon announcing the acquisition / hirings of new talent, representatives from each, tZERO and Vertalo, took the time to comment. The following is what each had to say regarding these moves.
Saum Noursalehi, CEO of tZERO, stated,
“These appointments are vital to our long-term strategy. On the issuance front, Brooke will drive strategic development of our security token ecosystem by focusing on the supply-side of the equation — working with issuers to bring more quality assets to the PRO Securities ATS. Mike and Alex will spearhead our efforts to continue to develop strategic market positioning for tZERO and engage with current and prospective investors, analysts, media and other tZERO stakeholders. These newly formed roles at tZERO round out the management team and are key to ensuring our continued success. I am proud of the milestones that we have achieved already this year and look forward to what will be achieved through the acquisition of such strong talent.”
Thomas McInerney, VP of Product at Vertalo, stated,
“Improving onboarding is an issue that resonates strongly for me. I am excited to help Vertalo make digital asset issuance, investment, and trading cost-effective and convenient for issuers and investors. Vertalo’s mission – to simplify the investment in, and management of, digital assets – aligns with my experience building and launching OpenFinance. The team at Vertalo is committed to growing and connecting the digital asset ecosystem through partnerships and technology that will transform finance.”
In Other News
Both Vertalo and tZERO are regulars among our newsfeed, prior to these hirings. Each company has played a vital role in the development of the digital securities sector, to date. For the industry to continue maturing, more companies need to be as active in the development of the services they offer. Here are a few articles detailing recent events pertaining to each of these companies.
DX.Exchange Goes Bankrupt – CX Technologies Ltd
Additionally, a host of suppliers have taken suit against the company. These suits run the gambit from unpaid bills to the alleged fraud. The well-known cybersecurity firm, White Hat Ltd is one of the company’s claiming losses due to DX.Exchange actions. Another lawsuit lists Bee2See Dotan B.S. Solutions. This is the firm that handled DX.Exchange targeted marketing. Even the company supplying the servers never got paid – Malam Team.
Writing on the Wall – DX.Exchange
Employees and suppliers knew to take action earlier in the month after the firm closed its doors unexpectedly. At the time, DX.Exchange owner Pinhas Patarkazishvili cited the rising costs and dwindled profits the exchange had left. He told employees that he was searching for a merger or acquisition and if that he was unsuccessful, the company would permanently cease operations.
Security Tokens on the DX.Exchange
Will Employees and Affiliates Get Paid?
VNX Exchange Launches, Calling Luxembourg Home
While there are many hurdles yet to be cleared on the way to the mainstream adoption of digital securities, there is one that remains obvious. This would be a lack of marketplace solutions within the sector.
Looking to fill this void in the sector is VNX exchange. The Luxembourg based company has just announced the launch of their digital assets issuance platform, which will work to facilitate the tokenization and sale of assets. VNX indicates that the potential for a secondary market launch will be evaluated in time.
In an event held to mark the launch of the platform, the company even drew praise from the Luxembourg Minister of Finance, Pierre Gramegna. He stated,
“VNX is one of the success stories of Luxembourg House of Financial Technology, the LHoFT”
A Place to call Home
For those that follow the digital securities sector, a geographical trend may have been noted. With forward thinking regulations, and industry clarity, Luxembourg has begun to establish themselves as a nation open to blockchain based endeavours. This has resulted in more than just VNX calling the European nation home. The following companies are just a couple of examples of this.
While the VNX launch is a positive development for the sector, they are not the first to the table, and will not be the last. The following companies stand to be a two of the major competitors in the same space in which VNX is looking to carve out a place.
Wasting no time in the launch of their services, VNX is providing investors with access to an STO straight out of the gate.
This event will see Korean based, Streami, issue €3 million worth of digital securities. The company itself is solution provider within the world of blockchain through services ranging from a cryptocurrency exchange, to custody, and fiat gateways.
The event garnered commentary from representatives of each, VNX and Streami.
Alexander Tkachenko, CEO of VNX Exchange, stated,
“Streami offering demonstrates the real use case of asset backed tokens to finance VC investments.”
Junhaeng Lee, CEO of Streami, stated,
“I strongly believe in the development of the assets-backed digital financial instruments. VNX offering shows how fundraising for VC industry may evolve and by extension implications to the financial industry. I am very excited and proud that Streami is the first offering presented at VNX platform.”
To learn more about the structuring of these digital securities, make sure to peruse the Streami investor deck HERE.
While first conceived in 2017, VNX exchange was founded in 2018. The company operates within Luxembourg, and hopes to transform FinTech through their platform.
CEO, Alexander Tkachenko, currently oversees company operations.
Tokai Tokyo Financial Holdings to Bring Digital Securities to Japan
After spending months developing within the confines of the MAS FinTech Sandbox, digital exchange, ‘iSTOX’, looks to take its first large step forward – towards Japan.
It was recently
announced that Japan based, Tokai Tokyo Financial Holdings, has acquired a minority share of ICHX Tech (iSTOX ‘mother-company’).
This move represents a first for iSTOX, as the company looks to eventually offer their services to investors worldwide.
iSTOX has had a successful year, as they have been on the receiving end of various investments over this time. The first major example would be the globally renowned, Singapore Exchange (SGX), followed by a series of companies in the following months.
This latest investment, which totals $4.58M, equates to a 4.58% share in ICHX Tech. By acquiring the position, it is expected that digital securities, hosted on the iSTOX platform, will now be available to Japanese investors; this being possible through the brokerage capabilities of Tokai Tokyo Financial Holdings.
MAS FinTech SandBox
One of the reasons behind the success experienced thus far by iSTOX, can be owed to the fact that they are one of a very select group to be admitted into the Monetary Authority of Singapore (MAS) FinTech Sandbox.
This program allows for companies to trial new technologies and products, within a structured environment, allowing for continued public/client protective measures.
iSTOX is a subsidiary of Singapore based, ICHX Tech, which was founded in 2017. The company is fervently working to develop, and attain, adoption for their digital securities exchange. This platform, which is currently operative and accessible by accredited investors, is expected to make a full launch in Q4 of 2019.
CEO, Danny Toe, currently oversees company operations.
The team at iSTOX recently announced new growth, as they welcomed a new CCO – Oi Yee Choo. The following article takes a closer look Oi Yee Choo and what she brings to the table.
Operating out of Tokyo, Japan, Tokai Tokyo Financial Holdings is an investment firm, which was founded in 1929. The company is able to offer its clientele a variety of services, pertinent to securities, such as brokerage, distribution, and more.
Company operations are currently overseen by CEO, Tateaki Ishida.
In Other News
Singapore has rapidly established themselves as a leader within digital securities. With clear regulation, and forward thinking, companies have been able to effectively establish themselves within the Asian nation. The following articles are a few examples, highlighting industry moves which involve Singapore.