Former Admiral CEO Victor Gherbovet Launches New SaaS Solution Provider FirstByt

Former Admiral CEO Victor Gherbovet has launched FirstByt, a new SaaS technology company that offers end-to-end solutions including white labels, legal support, payments, compliance,s sales, and marketing services for crypto and traditional market participants. The company now has offices in Lithuania and Romania.

As seen on the FirstByt website, the company was co-founded by Victor Gherbovet, Serg Gulko, and Victor Gherbovet. Currently, Victor Gherbovet serves as the co-CEO, while Gulko takes on the role of Chief Technology Officer.

Gherbovet commented on the new established business: "I am thrilled to announce the launch of our new venture, which has been in the making for nearly two years. We are proud to introduce a range of products tailored specifically for the brokerage industry. With over 15 years of experience building teams and products in the fintech sector, primarily focusing on traditional avenues, I have witnessed the profound shift towards digitalization. Today's investors and traders are embracing cutting-edge technologies, and we are excited to meet their evolving needs moving forward."

Gherbovet left Admiral, the well-known Estonian broker, in July 2021 after more than 13 years of service. Starting as the Director of the Romanian Branch of Admiral in May 2008, he was later promoted to the role of ESEU Regional Manager in November 2013. In January 2017, Gherbovet became a member of Admiral's management board and served as co-CEO from January 2021 until his departure.

There have been significant changes within Admiral's senior team this year. CEO Sergei Bogatenkov and COO Andreas Ioannou resigned at the beginning of the year, followed by Alexander Tsikhilov, Admirals' founder and Supervisory Board Chairman, assuming the role of CEO a month later.

In recent news, Admiral suspended the registration of new clients in the EU​ due to regulatory challenges, sparking industry attention. The company is currently working with local regulators to try to resume operations in the EU.