ItBit, a digital currency trading firm based in New York, has appointed Jason Nabi as head of its London-based gold trading operation. Nabi, who previously worked at Société Générale as a Managing Director and Global Head of Broker-Dealer Services, will be in charge of itBit’s new offices in Europe, Africa and the Middle East.

Itbit is hoping to reinvent UK’s gold trading market with its bankchain offering, which is a blockchain-based trade settlement system geared at post-trade clearing.

“We are creating an innovative and strategic solution with partners for the London gold market,”

Besides their bankchain system, itBit also operates a bitcoin exchange and an OTC market that is fully licensed in the state of New York.

Jason Nabi has spent a considerable portion of his career in the electronic trading sphere with positions at IBM Global Business Services, BNP Paribas Securities Services and Market. Nabi is also a member of the the Post-Trade Distributed Ledger Working Group,

which collaborates with various securities clearing firms on blockchain and distributed ledger solutions. Nabi’s prior experience will no doubt be of great use to itBit as it tries to position itself as a leader in the race to revamp Europe’s securities trading infrastructure.

According to an FT article, Naibi views the UK as a leader in the blockchain space and says that “London has moved from being behind the US to ahead in 12 months”. Naibi also said that itBit is very close to completing a Series B funding round.

 

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