FPG brings Wells Fargo, JP Morgan top executive Peter Eliades to US crypto prime broker

Rick Steves

FPG chose Peter Eliades for his elite electronic trading experience as the firm looks toward its newest client segment of traditional asset managers.

Crypto prime broker Floating Point Group (FPG) has appointed Peter Eliades as Head of Distribution, in charge of overseeing sales and business development teams in the U.S. and APAC regions, reporting to co-founder Kevin March.

Joining a predominately technical and crypto-native leadership team, Peter Eliades is as TradFi as it gets, having spent most of his career at banking giants J.P. Morgan and Wells Fargo.

Times are changing and the banking executive is trying out the digital asset industry by stepping foot on a cryptocurrency prime brokerage that boasts an institutional trading desk and settlement platform.

How to bring new participants into Crypto

FPG chose Peter Eliades for his elite electronic trading experience as the firm looks toward its newest client segment of traditional asset managers.

Peter Eliades has more than two decades of finance experience, including leading Wells Fargo’s Electronic Sales and Coverage and Head of Americas Trading for J.P. Morgan.

John Peurifoy, co-founder and CEO at FPG, commented: “Peter has built world-class electronic trading businesses for decades and understands the role that crypto will play in shaping the future of global financial systems. Bringing Peter on is a ground-breaking moment for our team, as we continue to see demand for best-in-class institutional offerings from our clients and potential participants.”

Sethi, CEO of Tribe Capital and FPG backer, said: “Peter brings with him the understanding on how to build an elite institutional team that will help bring new participants into crypto. FPG has a strong technical and crypto native team. Peter adds a dimension to more effectively target asset managers migrating into crypto, and empower them to understand the options that digital assets present.”

FPG launched FlowVault

Peter Eliades joins the team at FPG as the crypto prime brokerage looks to promote its product, FlowVault, a cryptocurrency settlement and transfer platform for exchange-based trading that was launched in early June 2022.

The company carries insurance for custodied cryptocurrencies and is regulated in the U.S. Floating Point Group is backed by Tribe Capital, Coinbase, Naval Ravikant and a host of institutional investors.

FlowVault addresses the increased risks faced by the digital asset class (hacks, scams, human error) as the visibility of holdings remains fragmented, with limited financial controls and irreversible mistakes. The platform provides operations teams a single interface but the FlowVault API can also be integrated directly into clients’ trading systems to automate workflows.

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