Demetrios Zamboglou Joins Lykke to Establish World’s First Crypto-Marketplace

Demetrios Zamboglou Joins Lykke to Establish World’s First Crypto-Marketplace

Demetrios Zamboglou Joins Lykke to Establish World’s First Crypto-Marketplace

Lykke, a Swiss Fintech company building a global marketplace on the blockchain, has hired Demetrios Zamboglou as its Chief Business Development Officer to lead ongoing development of its novel crypto-marketplace business model.

Mr. Zamboglou is a FX & CFD veteran with over a decade’s experience in Trading, Risk Management and Operations, having worked at senior positions at Alpari (UK), ForexClub, ForexTime and setting up his own FX brokerage zebraFX in 2012, and then selling the business in 2015. A winner of over a dozen internationally recognised awards from the likes of Microsoft, Amazon and University of Cyprus, Mr. Zamboglou is also completing his PhD in Behavioural Finance (the study of mass behaviour on markets) at King’s College London – studying the relative behavioural differences of different market participants as part of a broader trading population.

Demetrios Zamboglou said, “Joining Lykke more like joining a movement rather than a business. We want to change the world – and it all starts with establishing genuine independence and autonomy for our users. Distributed Ledger Technology (DLT) is the way forward and I can’t wait to get started”.

“After spending several years in the financial sector, I am now keen implement my expertise in developing a sophisticated way of digitizing assets, exchanging goods or services and preserving the value of people’s money” he added.

The Lykke Story

Mr. Zamboglou, joins Lykke at a pivotal juncture. Currently, Lykke is applying for a Financial Conduct Authority (FCA) license for a multilateral trading facility (MTF) to offer to clients a non-exchange financial trading venue as part of a broader aim to establish the world’s first ‘crypto-marketplace’ with the ability to offer trade execution on a range of financial instruments.

If Lykke’s dual applications with the Financial Conduct Authority and Cyprus Securities and Exchange Commission (CySEC) are successful, it will offer trading services for a range of instruments executed through its proprietary Lykke Marketplace, in both London and Cyprus. As a fledgling start-up, Lykke hopes to attract a combination of clientele ranging from speculative traders to import/export clients with a several key advantages over existing trading methodology.

The Lykke Marketplace is able to offer on-the-spot pricing even for products delivered in future, establishes full accounting history by implementing blockchain technology and allows its Marketplace participants to take active stakes in Lykke as an entity automatically, when conducting trading activity.

Lykke’s major selling-point and differentiator is better security and a higher level of accountability, made capable by cryptography, DLT and an open-source approach to typically closed-loop systems that dominate financial services transactions today.

Lykke will be the first blockchain-enabled marketplace with an existing broker license and simultaneously progressing a Multilateral Trading Facility license application with the Financial Conduct Authority. Lykke MTF UK expects to see its MTF status confirmed in the near future, while Lykke’s Zug-based parent company Lykke AG, is conducting a parallel application with the Cyprus Securities and Exchange Commission.

To assist with its FCA application, Lykke has recently opened its UK office at 199 Bishopsgate, in the City of London.

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