Koine, the institutional custodian for the digital economy, has appointed Hugh Hughes as Chairman and CEO.
Hugh is a highly experienced figure in European technology and financial markets. He was CEO of Societe Generale Securities in London for 10 years. Previously, he built stockbroking businesses in London, selling and merging them into major European financial institutions.
In 2005, Hugh co-founded Fixnetix, a financial technology company. Fixnetix built a secure, low-latency network connected globally to trading venues that, in turn, provided fastest-in-class price discovery, trade execution and trade confirmation for the algorithmic trading desks of investment banks, hedge funds and proprietary trading firms.
As Chairman and CEO at Finetix, Hugh secured institutional and HNWI investors to fund the growth of the company, grew the company to 140 employees, with offices in UK, USA, and Japan and gained patent protection for its on-chip technology innovation. In 2016, Fixnetix was sold for over USD $100m. to CSC, a NYSE-listed global provider of IT services.
Hugh commented: “I am highly impressed with Koine’s vision and innovation to establish a critical component of capital market infrastructure – a segregated, institutional custodian of digital assets.
“I look forward to engaging with clients, investors, commercial partners and regulators. Together we will build a superb client offering, with significant purpose and value”. Koine will launch in Q2 2019.About Koine
Koine offers institutional custody and settlement services for both fiat and digital assets. Its solution has been designed to overcome the risk of client assets being hacked from exchanges and the current challenges of blockchain based settlement.
It provides institutional grade custody for all trading styles, from passive holding to high-frequency trading, across multiple marketplaces with sub-millisecond settlement. Koine’s service significantly reduces counter-party and settlement risks for fiat and digital asset trading and, with legal segregation of our clients assets, minimises any insolvency risks. Throughout 2019, the Koine offering will be enhanced to support Securities and ICOs.
Koine is an EMD Agent of PayrNet, an Electronic Money Institution authorised by the FCA. It has implemented a banking grade governance framework. Its policies and procedures have been designed to conform to all regulatory standards in Client Due Diligence and AML and will be ready for 5MLD and MiFID2.
Working with world leading liquidity providers, institutions and marketplaces, Koine is led by a team of proven financial services executives with substantial experience in commercial banking, capital markets and payments.