Former CME executive Richard Shade has been named as head of operations at UK digital asset exchange and custodian Archax.
The appointment comes as Archax gears up for its forthcoming launch after securing approval from the Financial Conduct Authority (FCA) back in August.
Shade was most recently the head of custody at crypto exchange Bequant. Prior to that he was head of operations at CME Europe. He has also worked for NYSE Liffe and Bank of Tokyo Mitsubishi along with startup blockchain business UWINCorp.
“As we prepare to launch the first ever FCA regulated digital securities exchange, it is vital that we have the right operational team in place,” said Graham Rodford, Archax chief executive.
“With our regulated status and institutional focus, providing the highest levels of operational controls and processes is paramount.”
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