From Humble Beginnings to Major Player
Founded in 2015, XBTO began its journey with the simple belief that cryptocurrency was here to stay. Philippe Bekhazi, the CEO and founder, shared that their initial goal was to enhance liquidity across major exchanges. “We wanted to build digital asset products around this premise and make the ecosystem a better place,” Bekhazi stated during a recent AMA.
Risk Management: The Secret Sauce
In a space as volatile as crypto, XBTO’s emphasis on risk management has been crucial. Bekhazi highlighted that tackling market, operational, and legal risks has allowed them to thrive while growing their offering to include trading, asset management, and custody services. They’ve seamlessly blended these financial sectors with a commitment to secure practices.
Navigating Compliance and Institutional Needs
As institutional traders’ needs evolve, so too does XBTO’s approach. The discussion brought to light the crucial aspects of compliance and asset security. To tackle the challenge of verifying individual Bitcoin holdings, XBTO introduced a segregated vault custody solution, enabling real-time auditability on the blockchain. This solution is complemented by their acquisition of the Stablehouse platform, optimizing their institutional-grade services.
Game Changer: The Pro Trading Platform
Retail traders rejoice! XBTO has launched a new Pro Trading platform following a successful partnership with Stablehouse. Combining robust trading capabilities with top-tier asset protection, Bekhazi expressed excitement about this feature, designed to empower investors by providing them with strong infrastructure and ease of access to digital assets.
Bermuda: A Haven for Innovation
One cannot discuss XBTO without mentioning Bermuda’s Digital Asset Business Act (DABA), which Bekhazi had a significant role in shaping. He views Bermuda as a nurturing ground for innovation, stating, “Finding that balance between having regulations that are open enough to allow growth but rigorous enough to protect investors is key.” This legal framework fosters an environment of safety from bankruptcy, ensuring that client assets remain protected.
Soccer, Celebrities, and Global Reach
With their logo spotlighted on Inter Miami CF jerseys (yes, the ones with Lion Messi’s name on them), Bekhazi’s partnership with the club illustrates XBTO’s international vision. The club, co-owned by David Beckham, has elevated XBTO’s brand presence. Bekhazi proudly noted the deal’s alignment with their philosophy – soccer as a borderless and universal sport.
The Future of Crypto: A Crystal Ball Insight
Wrapping up the AMA, Bekhazi looked forward to the upcoming trends in crypto finance. He predicts that in the years to come, securitized real-world assets will proliferate on the blockchain, and tokenized equity will become a norm. Noting recent challenges in decentralized finance (DeFi), he confidently asserted that centralized finance (CeFi) will remain a stronghold, emphasizing the need for secure trading environments.
