ItBit Hires Former SocGen Exec to Lead London Initiatives

New York-based bitcoin exchange itBit has hired a securities services and technology veteran to head operations in Europe, the Middle East and Africa.

Feb 16, 2016 at 6:17 p.m. UTC
Updated Sep 11, 2021 at 12:08 p.m. UTC

New York-based bitcoin exchange itBit has hired a securities services and technology veteran to head operations in Europe, the Middle East and Africa.

The hire of Jason Nabi comes as the exchange opens a new office in London. Prior to itBit, Nabi worked for major European bank Société Générale as its global business lead for post-trade services.

Nabi started his career as a dealer on the London Stock Exchange, and has held senior positions at IBM Global Services, Bloomberg and BNP Paribas Securities Services.

He said in a statement:

"The industry is at a turning point with distributed ledger technology, and I believe that itBit is the best-positioned firm to be a leader in this area with its Bankchain offering."

There’s been a push from entrepreneurs and traditional financial services players in London to better understand and take advantage of blockchain technology. In November, a consortium of banks, exchanges and clearing houses, including the London Stock Exchange, UBS and CME Group formed a working body to explore how blockchain could be used for settlement.

As an advisor to the Post-Trade Distributed Ledger Working Group, as the consortium is called, Nabi will likely help bridge the gap between the startup blockchain tech company, itBit and the traditional financial services industry.

With its clearing and settlement network, Bankchain, itBit plans on extending blockchain technology to existing markets, for starters trading on the London gold market, according to the Financial Times. And there’s momentum already with the London Bullion Market Association recently calling for proposals for an electronic hub where trades can be logged.

Image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Sequoia's Guide to Surviving the 2022 Bear Market

Venture capitalists have gotten increasingly frantic over the last few months.

Venture capitalists have gotten increasingly frantic over the last few months.

CoinDesk - Unknown
2
CoinDesk - Unknown
NFT Art Museums Are a Good Idea

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

CoinDesk - Unknown
3
CoinDesk - Unknown
How the US Can Establish Itself as a Crypto Leader

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

CoinDesk - Unknown
4
CoinDesk - Unknown
No, the UK Is Not Going to Make USDC and USDT Legal Tender

For “legalize” read “regulate.”

For “legalize” read “regulate.”

CoinDesk - Unknown