Floating Point Group (FPG), a cryptocurrency prime brokerage with an institutional trading desk and settlement platform, has appointed Peter Eliades, former J.P. Morgan and Wells Fargo banking executive “as Head of Distribution.”
Eliades joins “a predominately technical and crypto-native leadership team.”
With over two decades of finance experience, “including leading Wells Fargo’s Electronic Sales and Coverage and Head of Americas Trading for J.P. Morgan.” Eliades brings “an elite institutional knowledge to his role with FPG.”
Eliades will “oversee sales and business development teams in the U.S. and APAC regions, reporting to co-founder Kevin March.”
John Peurifoy, FPG co-founder & CEO, said:
“Peter has built world-class electronic trading businesses for decades and understands the role that crypto will play in shaping the future of global financial systems. Bringing Peter on is a ground-breaking moment for our team, as we continue to see demand for best-in-class institutional offerings from our clients and potential participants.”
The appointment continues FPG’s rapid growth “across the firm as they aim to increase staff to support the recent launch of FlowVault, FPG’s prime brokerage platform.”
Floating Point Group serves “an institutional user base that Eliades is familiar with from his previous experiences with large hedge funds, asset managers and corporate customers.”
Sethi, CEO of Tribe Capital and FPG backer, added:
“Peter brings with him the understanding on how to build an elite institutional team that will help bring new participants into crypto. FPG has a strong technical and crypto native team. Peter adds a dimension to more effectively target asset managers migrating into crypto, and empower them to understand the options that digital assets present.”
As noted in the update, Floating Point Group is “building secure and effortless access to cryptocurrency. FPG drastically simplifies the operations necessary for asset managers to deploy cryptocurrency-centric strategies at scale.”
The company carries insurance “for custodied cryptocurrencies and is regulated in the U.S.”
Floating Point Group is “backed by Tribe Capital, Coinbase, Naval Ravikant and a host of institutional investors.”