Digital Assets Platform FalconX Expands Business Operations to Singapore

FalconX, which claims to be the “most reliable” digital assets prime brokerage for the world’s leading institutions, announced expansion of its services into Singapore.

Matt Long has “joined FalconX as General Manager and Ave King as Chief Compliance Officer, both based in Singapore.”

Alongside these key executive hires, FalconX is also “launching its OTC derivatives business in Singapore to service institutional clients across APAC, augmenting its leading position in the United States as the first and only CFTC-registered cryptocurrency swap dealer also registered with the National Futures Association (NFA).”

The international expansion “follows a year of significant growth for the company, closing out 2022 with an $8 billion valuation after a $150 million Series D funding round led by B Capital and GIC, the sovereign wealth fund of Singapore.”

Singapore is “an ideal regional hub for the organization as FalconX continues to invest in the future of digitized finance.”

As noted in the update, Singapore is “well-positioned as a major digital assets hub, is central to global capital and asset management flows and is the 4th most ‘crypto ready’ city in the world, following London, New York, and Dubai.”

CEO Raghu Yarlagadda said:

“Expanding internationally to Singapore is a strategic move, as it’s known globally for its heavy investment in the future of blockchain and digital finance. With Matt and Ave at the helm, the Singapore team is poised to accelerate FalconX’s growth in APAC as we continue to shape the future of finance on a global scale.”

FalconX’s momentum continues “to be driven by demand from a diverse range of institutional market participants, including some of the world’s largest financial institutions, hedge funds, asset managers, venture capital firms, payment providers, family offices and investment applications.”

Long added:

“Our goal is to provide Singapore and APAC institutions access to our world-leading expertise in digital asset OTC derivatives and as we seek to obtain the appropriate licenses in Singapore and across APAC, deliver the complete FalconX prime solution which includes access to the world’s deepest pools of spot liquidity, staking, credit, portfolio margining, reporting and risk management.” 

As the financial services industry increasingly shifts toward digital asset transformation, FalconX has “created the most comprehensive prime brokerage infrastructure, enabling institutions safe, efficient and scalable access to digital asset markets while paving the way for traditional assets to be tokenized.”

The addition of Long, “who will help grow the business in Singapore and the greater Asia-Pacific region, signifies the increased demand from institutional customers globally for a prime broker with a comprehensive product suite.”

Long reportedly “brings over 20 years of experience across digital assets, traditional financial markets and technology and investing in disruptive businesses.”

Immediately prior to joining FalconX, Long working as the Managing Director and Head of Prime Brokerage and SaaS at institutional digital asset platform OSL. He has also “run traditional finance sales, trading, derivative and asset management businesses globally, with specific expertise in APAC markets.”

As institutional investors increasingly “seek the surety of dealing with trusted and regulated counterparty, Ave King joins as Chief Compliance Officer, APAC, to manage compliance across international entities including securing relevant regulatory licenses, where appropriate. King will play a key role in continuing to build out the global regulatory compliance and AML program.”

King reportedly “has more than 20 years of experience and prior to joining FalconX, King held roles at Bitstamp, Coinbase, Deutsche Bank and JP Morgan.”

In 2022, FalconX claims it “became the first and only cryptocurrency swap dealer registered with the National Futures Association (NFA) in the U.S. and one of the first crypto-focused Primary Level Members of the International Swaps & Derivatives Association (ISDA).”

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