Dutch market maker IMC Trading has hired Alex Casimo as chief commercial officer of its cryptocurrency business, according to a person with direct knowledge of the matter.
Casimo started his new role this week and is based in London, said the person, who spoke on condition of anonymity because the matter is private.
The hire reflects IMC’s ambition to build deeper and more strategic relationships with institutional counterparties and foundations across the crypto ecosystem, with a view to becoming one of the leading customer-facing firms in the industry, the person added.
Both IMC and Casimo declined to comment.
Previously, Casimo was founder and COO of crypto market maker Portofino Technologies. He also worked at Citadel Securities.
Traditional financial firms are expanding into cryptocurrencies as customer demand, regulatory clarity and market infrastructure improve, pushing banks, asset managers and trading firms to delve deeper into digital assets.
What was once considered a fringe market is increasingly seen as another investable and usable asset class, with institutions creating custody, trading, tokenization and ETF-related businesses to capture new revenue while avoiding being left behind in a market that is becoming more integrated with mainstream finance.
The Amsterdam-based company already has a significant presence in the cryptocurrency sector. According to its website, the company trades $3 billion per day in average volume, supports hundreds of trading pairs, and has access to 50 major exchanges globally.
The market maker uses its own capital, advanced algorithms, and high-speed technology to buy and sell financial instruments in stocks, options, exchange-traded funds (ETFs), and other asset classes. By continuously quoting prices and executing trades on exchanges around the world, the company provides liquidity to the markets, helping to ensure smooth trading, while generating profits from small price differences and efficient risk management.
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