Former CBOE Head of Equity Options Joining Blockchain Firm
It has been revealed that Kapil Rathi is joining the team at the blockchain-based startup AlphaPoint as their manager of the trading markets, a job that is newly established, in which he will be handling everything related to the business's trading or exchange. Rathi’s last position was as the manager of equity options at CBOE and before that he was at the NYSE, which is currently a part of CBOE as of 2017.
Rathi explained that he had been keeping an eye on AlphaPoint for about a year and six months now with a keen interest and also admiration for what they have achieved in supporting organizations which introduce new products to the market. At Rathi’s new position, his job is to look for ways to better the connection between common finance practices and the digital funds' ecosystem in order to keep building and growing this environment.
He further noted that digital funds and cryptocurrencies have intersected at a curious point. As investors’ demand and longing to take part in digital funds is increasing exceptionally, those organizing and facilitating the market such as brokers, curators, exchange platforms, and regulators seem to be quite vigilant and are moving slowly. So, Rathi explained that he will be working alongside security platforms and regulators while developing projects and will be highly aware of their protection and rights.
A Believer in Cryptos
Rathi has always shown his enthusiasm in quite a vocal manner when talking about cryptocurrency funds while he was at CBOE. Last June, he stated that at CBOE they really believe in cryptos and their potential. While the company isn’t going to share any future predictions for BTC, he stated that they believed it to be a tradable financial asset. He had mentioned that CBOE were opting for a holistic approach to doing things, whether it's designing new cryptos or cryptocurrency options.
BTC futures trading at CBOE was established in December of last year and reached an all-time high on 26 April, when a number of 18,210 contacts were traded for May futures. The exchange platform had also been seeking approval from the SEC for BTC traded assets last March.
Rathi has extensive experience with continuing innovations where he worked before. He supported the automation of trading on the NYSE, managed the development of the EDGX platform for Bats after their launch, and also handled the integration of the technology behind Bats with that of CBOE.
Last May, the company released its RABT structure and shared that software was developed to allow trading with the token while simultaneously being in compliance with security regulations.
During the summer, the startup company raised a total of $15 million through Galaxy Digital and released a new platform called DCEX whose main crypto is XRP and against which other cryptos are traded.