FXCM's Senior Executive Ilies Larbi Departs to Launch Crypto-Exchange Ouinex

Fazzaco learned that FXCM's Global Head of Retail Partnerships Ilies Larbi, a famous FX industry veteran, has departed to launch Ouinex, an international crypto-exchange headquartered in France.

Larbi, based in Paris, joined FXCM as a FX Sales Associate in 2007, and was soon promoted to the VP of Sales in France in the second year. After that, he was moved to Germany as VP of Sales. Thereafter, with his extensive industry knowledge as well as record sales and leadership performance, Larbi held different Managing Director positions with FXCM in Europe, the Middle East and Africa.

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Larbi left the company where he struggled for 15 years and joined a growing list of senior figures moving from traditional finance to roles at crypto firms or to creat their own crypto businesses.

Commenting on his choice of the crypto industry and the foundation of Ouinex, Labri said: "Like many in the TradeFI industry, I have been closely monitoring the digital asset industry and the evolution of trading products associated with that space. I think it's fair to say that the 'crypto' universe has become too large to ignore. We are seeing crypto adoption progress within the institutional space and a regulatory environment that has become more mature and relatively 'stable' in certain countries such as France. We have also noted an increased demand from the TradeFI-savvy retail audience for a regulated solution that provides advanced trading functionalities. In past months, things have lined up for me from a professional perspective, and I have had the opportunity to meet the right people who have shared the same vision. We have decided to take the leap and start Ouinex."

The newly created crypto-exchange choose Paris as its headquarter because "We needed a crypto-friendly jurisdiction that not only embraces the digital asset ecosystem but also promotes it by providing clear regulations and a legal framework within which innovation can thrive. France, along with the local regulator the AMF, provides just that, and we are grateful for it," Larbi explained. Binance, securing a Digital Asset Service Provider (DASP) registration from AMF most recently, became the first major global crypto exchange to register in France, which "proves France's position as the European crypto hub," he added.

Moreover, Labri revealed in an interview that Ouinex, equiped with a team comprising international members in Latin America, Africa, the UK & Europe, who are with over 15 years of experience in Tier 1 Financial Institutions, with proven track records in their respective expertise, will focus its businesses on the EU, African and Latin American markets.

For further steps, the crypto-exchange is entering a pre-seed funding period imminently and shortly after will announce its ICO for the token OUIX, according to Labri.