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Crypto Prime Broker FalconX Opens FX Desk Led by Former BCB Executives
FalconX, a cryptocurrency brokerage firm, is launching a dedicated exchange desk based in London, offering access to 20 forex pairs, including major currencies such as the US dollar, euro and British pound.
Announced today (Tuesday), the FX desk is aimed at cryptocurrency companies, exchanges and brokers, allowing them to access fiat currency pairs. The company emphasized that the new service reflects the traditional FX market experience.
Run by former BCB executives
The company has hired a dedicated team of five people to manage the new FX desk. The team will be led by Ben Sebley, former Chief Growth Officer at BCB Group, who will be joined by Richard Usher as Head of Trading FX and Lux Thiagarajah as Head of Commercial FX. Two other former BCB Group executives are also part of the team.
All three named executives are seasoned veterans with significant experience in the traditional financial services industry. TO BCB GroupUsher was the head of OTC trading, while Thiagarajah was the Chief Revenue Officer.
Bridging the gap between FX and Crypto
“For our customers, this will offer fiat access along with high-quality service that has historically been difficult to manage,” the company said in the official announcement, adding that the FX desk will offer “deep liquidity in multiple currencies for a broad range of clients, expanding our current product offering.”
With offices in the US, UK, Malta, India, Singapore and Hong Kong, FalconX is a top-tier broker in the cryptocurrency space. The company was founded in 2018 and is headquartered in Chicago.
“For aggregators and retail brokers operating in the cryptocurrency market or looking to launch crypto solutions, the new desk offers a low-cost solution for small ticket sizes, across multiple currency pairs, in high volumes,” explained the company on the benefits of its FX desk. “Additionally, it will alleviate headaches in the CFO’s office by facilitating operating balance sheet movement, profit repatriation, investments and overexposure management.”
Meanwhile, a subsidiary of FalconX registered in the Seychelles was recently established settled with the Commodity Futures Trading Commission, paying $1.8 million to operate in the United States without registration. It was the first such action by the US regulator against a platform that “inappropriately facilitated access to digital asset exchanges.”
FalconX, a cryptocurrency brokerage firm, is launching a dedicated exchange desk based in London, offering access to 20 forex pairs, including major currencies such as the US dollar, euro and British pound.
Announced today (Tuesday), the FX desk is aimed at cryptocurrency companies, exchanges and brokers, allowing them to access fiat currency pairs. The company emphasized that the new service reflects the traditional FX market experience.
Run by former BCB executives
The company has hired a dedicated team of five people to manage the new FX desk. The team will be led by Ben Sebley, former Chief Growth Officer at BCB Group, who will be joined by Richard Usher as Head of Trading FX and Lux Thiagarajah as Head of Commercial FX. Two other former BCB Group executives are also part of the team.
All three named executives are seasoned veterans with significant experience in the traditional financial services industry. TO BCB GroupUsher was the head of OTC trading, while Thiagarajah was the Chief Revenue Officer.
Bridging the gap between FX and Crypto
“For our customers, this will offer fiat access along with high-quality service that has historically been difficult to manage,” the company said in the official announcement, adding that the FX desk will offer “deep liquidity in multiple currencies for a broad range of clients, expanding our current product offering.”
With offices in the US, UK, Malta, India, Singapore and Hong Kong, FalconX is a top-tier broker in the cryptocurrency space. The company was founded in 2018 and is headquartered in Chicago.
“For aggregators and retail brokers operating in the cryptocurrency market or looking to launch crypto solutions, the new desk offers a low-cost solution for small ticket sizes, across multiple currency pairs, in high volumes,” explained the company on the benefits of its FX desk. “Additionally, it will alleviate headaches in the CFO’s office by facilitating operating balance sheet movement, profit repatriation, investments and overexposure management.”
Meanwhile, a subsidiary of FalconX registered in the Seychelles was recently established settled with the Commodity Futures Trading Commission, paying $1.8 million to operate in the United States without registration. It was the first such action by the US regulator against a platform that “inappropriately facilitated access to digital asset exchanges.”