Omniex, which is a crypto trading platform focused on institutional investors, has recently called two high profile US financial regulators for its board of advisors. They are the former US Securities and Exchange Commision (SEC) chairman, Arthur Levitt and Sheila Bair, which was the chair of the Federal Deposit Insurance Corp (FDIC).
The company has also announced that it also brings Maatje Bus, which worked before as the head of capital markets at Thomson Reuters, as an advisor too. In related news, Tom Eidt, which is the former head of the KCG’s regulatory affairs, was also defined as the chief compliance officer and general counsel of Omniex.
About The New Executives On The Board
Levitt is the person who served the US SEC for most time as the chairman. He was in the function from 1993 to 2001. According to him, the institutional investors need technology that will help them to make more profits and solve difficult challenges with cryptocurrencies.
He is also advisor to many other companies like Mirror, BitPay, Blockchain, PeerIQ and Sofi. Levitt’s career has also taken him to be an advisor of Goldman Sachs and The Carlyle Group before.
Sheila Bair, the former FDIC executive, has taken some time to emphasize how the crypto industry is revolutionary and how it can change the world for the better, even if it is still very new, it can be a global asset class with success. She also has a feeling that the world will be working to regulate crypto assets soon.
According to her, Omniex was created to address the concerns of the regulators about lack of market infrastructure in the crypto world and the company will serve as a bridge for the institutional investors and this brand new market.
Bair worked as the chair of the US banking regulator from 2006 to 2011 and played an important role in the financial crisis that started in 2008.
However, Bair is not 100% positive about cryptos. While she is interested in Bitcoin and its future, she argues that it has failed “miserably” as a method of payment and that digital currencies, as currencies, still have a road ahead of them despite being great security assets.
Omniex is a fairly new company. It was founded in 2017 to attract institutional investors to the crypto investing field. The company was able to get $10 million USD from seed funding from high profile investors that include Sierra Ventures, Digital Currency Group and the British hedge fund billionaire Alan Howard.