Malta Digital Exchange Taps Saxo Bank’s Fintech Head Chris Truce

Malta Digital Exchange, a security token platform, has hired a technology executive at the Danish FX broker Saxo Bank to join as non-executive director of MDX’s board of directors. Chris Truce is joining the Malta-based crypto exchange, which is set to launch next month.

Truce has been a mainstay with Saxo for more than 12-year tenure, working in multiple roles, including as director of platform development, head of B2B/API business and head of institutional sales in North America. He most recently served with the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term bank as Global Head of Fintech, tasked with developing Saxo’s OpenAPI, which allows developers to build tailor-made apps on Saxo’s infrastructure.

Truce joins the crypto venue with immediate effect and will retain his current position with Saxo Bank, he confirmed to Finance Magnates.

During his time, which dates back to 2007, he helped Saxo’s institutional clients to integrate the company’s trading and investing capabilities into their own applications and systems.

Truce has over 15-years’ experience in the financial services industry, specializing in digital business transformation. Prior to his foray into the FX space, he held several sales positions in both Australian and international investment banks, such as ING Bank, Macquarie Bank, and ANZ.

Malta Digital Exchange aims to launch an institutional-grade security token exchange, which will be applying for a license from the Malta Financial Services Authority. The venture, which will capitalize its regulatory approval, aims to create a way for companies to tokenize equity and issue it on a Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term without running afoul of regulatory obligations.

Crypto Poaches More Talents

Truce is not the first fintech veteran to join a crypto startup to reinforce its offering and get advice on investment opportunities. Last month, JPMorgan longtime executive director Oputa Ezediaro joined the San Francisco Coinbase to take on a key role within its Institutional Coverage Department.

Coinbase already announced aggressive growth plans for its newly opened New York office and is also building teams in Chicago and London.

“We are very privileged and fortunate to have someone of Chris’s skills and experience join the board of Malta Digital Exchange. Chris’s extensive experience in financial services, coupled with his in depth knowledge and understanding of the Fintech space will help drive MDX to the forefront of security token exchanges globally,” MDX said in a statement.

"It is incredibly exciting to be a part of such an innovative company at the heart of the Fintech revolution. I'm looking forward to being able to provide key strategic advice on how to harness new technologies and innovate incumbent operating models. I expect MDX to be able to drive unparalleled efficiency gains and cost savings in the securities industry, ultimately putting value back in the hands of the investor," Truce added.