The CEO of the London Metal Exchange is the latest finance executive to join a cryptocurrency firm
Komainu, a digital asset custodian, has entrusted new CEO Matthew Chamberlain with expanding services for institutions interested in expanding their digital asset portfolios.
Chamberlain is expected to formally join Komainu later this quarter, according to a spokeswoman for the company. Henson Orser, currently the interim CEO of Komainu, will assume the presidency.
Komainu’s regulated institutional custody platform and hybrid service approach, according to the former head of the London Metal Exchange (LME), combine the best of conventional and decentralised finance.
“I am a firm believer in the revolutionary potential of a blockchain-enabled world,” Chamberlain said. “However, such technologies will realise their full potential only when a sufficient infrastructure is in place to make them conveniently and dependably accessible to everyone interested in participating in this historic time of financial democratisation.”
The appointment follows Komainu’s Series A fundraising round of $25 million in March. The financing was headed by Alan Howard, co-founder of Brevan Howard and Elwood Asset Management.
The new CEO spent the previous nine years at the London Metal Exchange. The LME conducts the majority of the world’s non-ferrous metals activity, which will amount $11.6 trillion in 2020.
He formerly served as LME’s chief operating officer, head of business development, and head of strategy and execution.
Chamberlain started his career at Citibank before moving on to Perella Weinberg Partners and UBS, where he worked on mergers and acquisitions with an emphasis on exchanges and financial market infrastructure.
“As the digital asset business matures, it will need experienced individuals to assist in the institutionalisation process,” CoinShares CEO Jean-Marie Mognetti said in a statement. “Matthew’s professional expertise is critical for Komainu’s growth in the financial sector.”
In 2018, Nomura, a Japanese investment bank, announced the formation of Komainu, a joint venture with CoinShares and Ledger. The service, which is headquartered in the Channel Islands, will formally begin in June 2020.