Arthur Levitt & Sheila Bair Are Appointed The Advisers Of The Omniex Crypto-Trading Platform

Former chairman of the US Securities and Exchange Commission (SEC) Arthur Levitt and former chairman of the Federal Deposit Insurance Corporation (FDIC) Sheila Bair joined the board of the Omniex crypto currency trading platform.

Omniex also said that it hired M. Bus, ex-head of capital markets at Thomson Reuters Corp., as director of strategic partnerships development, and Tom Eidt, former head of regulatory affairs at KCG Holdings, as general director and general counsel.

From 2006 to 2011 Bair served as chairman of the US banking regulator and played an important role in the government’s response to the 2008 financial crisis.

Omniex, which has offices in San Francisco and Santa Monica, California, is developing technologies and services to help financial institutions trade in crypto-currencies such as bitcoin.

While interest in crypto-currencies has increased, the sector still lacks market infrastructure.

Levitt, who became the chief long-serving chairman of the US Securities and Exchange Commission (he held this position from 1993 to 2001), currently serves as an adviser to several financial technology companies, including Social Finance Inc, BitPay payment company and crypto-wallet provider Blockchain. Omniex attracted $ 10 million as start-up financing from companies such as Jump Capital, Digital Currency Group and Wicklow Capital, as well as from Alan Howard, founder of the Brevan Howard hedge fund.