Meet New Everex COO Evgeni Mitkov
At Everex we have a vision for how this novel world of blockchain-based finance realizes itself, and how our business can help drive progress by pushing blockchain forward.
To enable this vision, we have brought onboard a new Chief Operating Officer, Evgeni Mitkov. As an FX veteran, Mr. Mitkov will help Everex strategize where to take Everex next. We had our marketing team sit down with him to learn a bit more. This will be the first installation of a series of blogs introducing not only Mr. Mitkov, but also his vision for Everex’s future.
What is your role with Everex as COO, and what is your past experience?
As COO, my responsibilities at Everex will be building the business offerings and regulatory framework in which Everex will operate. I am prepared to take on these responsibilities thanks to twenty years working in the interbank currency options markets, of which the last four I spent developing a blockchain solution for clearing FX derivatives. At Everex, I will now help to build out the much needed FX to blockchain bridge, which enable free flowing transfer of money from the existing payment and banking systems to the tokenized Ethereum blockchain.
How will your past experience help to shape the future of Everex?
My FX knowledge and relationships are already shaping the business solution we will offer. The FX markets, with their vast liquidity and regulated players, offer great opportunities for partnerships. FX players will be natural liquidity providers and facilitators of the Everex business by providing a bridge from fiat to crypto-currencies.
I have spent 20 years in the institutional FX Options market, building the fastest and most complex trading and risk management systems and working with the top global banks and buy-side firms in the market. Buy-side firms were shut out of the liquid interbank market much the same way blockchain businesses are today.
In 2007, I opened up to interbank market to buy-side firms. The banks kicked and screamed, cursed on recorded lines, and conspired to cut the flow to my Wall Street firm. After my firm gave up on the business under bank pressure, I built from scratch the first OTC FX derivatives electronic matching platform and opened it to all. In 2013, we sold a business.
What have you done since then?
After selling the business, I was able to pay attention more to what was an intellectual curiosity in Bitcoin. The more I dug in bitcoin the more intriguing it was despite the Mt. Gox and Silk Road distractions. The technology was solving problems that banks have been creating for decades. That is when I decided to merge the FX and blockchain worlds.
What vision do you have for Everex in the next five years?
We are going to be the premier global payments, FX and trade finance solution on a blockchain for individuals and SMEs. Banks like to overcharge, and have fired or chased away with hefty fees in some cases more than 50% of their small clients.
Everex can cost-effectively service these individuals and CMEs within the current regulatory framework with cutting edge technology it has and is developed on top of the Ethereum blockchain.
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