HDR International Buying and selling Restricted, the agency behind veteran crypto derivatives platform BitMex, has undergone a company restructurin
HDR International Buying and selling Restricted, the agency behind veteran crypto derivatives platform BitMex, has undergone a company restructuring and can now be often called ‘100x Group.’
HDR introduced the brand new holding construction on July 15, with the alternate now being owned by the Seychelles-based 100x Group. The announcement mentioned the “new construction offers [the] group with extra freedom to discover, incubate, and pursue new alternatives and investments.”
There are additionally recommendations the corporate could develop into different ventures past BitMex.
Facilitating investments
The 100x Group is led by HDR’s founders, Arthur Hayes, Ben Delo, and Sam Reed, and contains greater than 200 workers. The publicity bio for the brand new holding agency says that 100x Group “explores, incubates and pursues alternatives and investments, as a part of its mission to reshape the trendy digital monetary system.”
100x Group’s co-founder and chief govt, Arthur Hayes, emphasised the sluggish and cumbersome nature of the legacy monetary system, stating:
“We’re getting down to change the established order and reshape the trendy digital monetary system into one which is extra inclusive, and empowering.”
100x Group onboards non-executive chairman
The restructure has seen Dr. David Wong appointed as 100x Group’s non-executive chairman, and he will probably be tasked with creating 100x’s long-term development technique.
“BitMEX stays central to the continued success of our enterprise, and we’ll proceed to put money into the platform to take care of and develop our management place,” mentioned Wong.
The brand new chair added that 100x plans to “make a constructive and long-lasting impression on the event of the digital monetary ecosystem of the long run,” hinting at plans to develop past working BitMex.
Wong was appointed as HDR’s non-executive chairman on June 30 and beforehand held senior positions with Financial institution of China and ABN AMRO Financial institution.