Japanese crypto firm FXcoin has recruited Deutsch Bank’s former foreign-exchange dealer, Yasuo Matsuda as a senior strategist for the cryptocurrency startup.

According to Business Times. the Japanese cryptocurrency startup which was founded by Deutsch Bank AG veteran, Tomoo Oshi, hired the alumnus of the German lender to furnish the startup with daily reports on market speculations beginning from this month, September 2018.

FXcoin Ltd. plans to engage in the exchange of Bitcoin among other virtual currencies once it finalizes regulatory approval from Japan’s Financial Services Agency. Matsuda’s experience is expected to come to the fore in the provision of research on digital tokens.

Yasuo Matsuda worked with Deutsche Bank as a foreign exchange dealer for six years, and his expertise in the brokerage industry will be of immense benefit to the startup. Onishi’s foresight prompted this timely recruitment in the wake of similar moves being made by other firms in the industry.

Following his decision to begin the cryptocurrency startup, Onishi resigned from his position as head of currency sales at Deutsche Bank and recruited professionals in the banking industry. Top among his recruits were Nomura Holdings Inc., HSBC Holding Plc, Mitsubishi UFJ Financial Group and his former employer.

FXcoin Ltd. leveraged on the licensing system introduced by Japan’s Financial Service Agency in 2017 to seek approval as a cryptocurrency exchange firm. The new licensing system became imperative following Coincheck’s loss of assets worth about U$500 million in a hack that happened in January.

“We are trying to do all we can while we’re waiting for registration” Onishi disclosed in an interview while he refrained from giving hints on the status of the startup’s application. He further revealed plans to hire more professionals from the financial sector once approval is sealed.

Onishi has also brought in the expertise of former chief foreign-exchange strategist and head of Japan fixed-income research at Deutsche Bank, Taisuke Tanaka. Having commission content from this independent researcher, FXcoin Ltd. will be furnished with the latest articles on digital tokens.
FXcoin Ltd. is keen on boosting investors’ confidence and reliance on updates within the digital currency market. Onishi believes investors need accurate information on digital assets, else they “won’t be able to take action.”