LME’s boss is leaving the company less than one year after his attempt to close down its famed trading floor.
Matthew Chamberlain will leave the City institution in April to start a crypto-currency startup.
Komainu is located in Jersey and stores cryptocurrency-currencies like bitcoin. Investors can keep their funds safe with it. It was founded in 2018 and raised £18.5m last year.
Vocal: The exchange runs one of the last ‘open-outcry’ marketplaces in Europe
Chamberlain who led the LME for 145 years since 2017 will see a dramatic change.
One of Europe’s most prestigious open-outcry exchanges, the Exchange allows trader to bark orders to each other around a circular leather sofa. This is where they set global prices for metals like copper and aluminum.
Chamberlain worked at UBS and Citibank in mergers & acquisitions. Chamberlain stated that digital currencies technologies will only be able to realize their full potential if there is a robust infrastructure to allow them to be made available for all people who are interested in participating in the unprecedented period of financial democraticisation.