Crypto brokerage group Crypto.com announced on Thursday morning that it has hired Kevin Algeo as its new SVP, Capital Markets.
The company said that Algeo will “oversee capital markets initiatives” across the UK, Europe, Middle East, and the Asia-Pacific region.
More specifically, the firm noted he will be responsible for the rollout of non-crypto trading products on the company’s platform. Crypto.com said that will include cash equities, exchange-traded derivatives, and OTC derivatives.
It’s plausible the company doesn’t want to use the word ‘CFD’ for branding reasons but that is what they are referring to when they say ‘OTC derivatives’. The company has listed FX, index, and commodities OTC derivatives as part of its publicly-available product roadmap and plans to add them in the third quarter of this year.
On Wednesday, the crypto giant announced that it had received the green light from the Cypriot regulator to acquire the European entity of LegacyFX. It will presumably use that as its base of operations and to roll out trading products across Europe
From IG Group to Crypto.com
Algeo will be a familiar face to some readers as he was most recently at IG Group. He worked for the London-listed broker for over a decade.
After joining in 2013, he spent almost four years as Managing Director of the group’s South African entity.
He then moved to the broker’s Aussie office in Melbourne and ultimately became CEO for Australia and New Zealand. Algeo was promoted again in 2018 and worked for his five years with the company as CEO for Africa and APAC.
“I’ve long admired the strength of Crypto.com’s brand, their focus on clients and the ambition of their product roadmap,” said Algeo. “The company’s focus on innovation, compliance, and institutional-grade infrastructure makes it an industry leader. I look forward to working with the talented team to drive strategic initiatives and deliver innovative solutions to our clients.”
