Crypto broker FalconX will launch a dedicated foreign exchange trading desk in London, staffed by a team from crypto banking firm BCB Group.
The desk will offer trading services for 20 foreign exchange pairs, including major currencies such as the U.S. dollar, euro and pound, to cryptocurrency trading firms, exchanges and brokers, FalconX said in a press release on Tuesday.
The team will be led by Ben Sebley, with Richard Usher as head of foreign exchange trading and Lux Thiagarajah as head of commercial foreign exchange. The department will have a total of five employees.
The foreign exchange trading department plans to establish new fiat currency gateways and enhance fund flows between traditional currency pairs with same-day settlement options, FalconX said. (CoinDesk)