Game changers issue 13 by PaulGC

ISSUE #13

PANDA POWER ! Interview with Thomas Kareklas, Vice President of Sales at Panda TS

GAME CHANGERS

DIRECTORY

GAME CHANGERS Issue #13

Note from the editor

Sunny Singh

Thomas Kareklas

Rudolf Medvedevs

Youseff Barakat

Contentworks

Mikael Brienholst

Brad Alexander

View from the top 03

Van Hawke Sports. 05-09

Panda Trading Systems 10-12

Ternion 13-15

Probus FX 16-17

The social media guide to launching an ICO 18-20

Coinify ApS 20-23

FX Large 21-22

VIEW FROM THE TOP

As we enter the summer season and half the year has been completed, I thought it was a great time to take a break from FX, and have a look at a wider look at some other Game Changing industries that have come to the forefront over the past few years. We were lucky enough to spend some time with Sunny Singh before jetting off to another glamourous VIP sporting event. He outlines how sports branding can benefit your organisation, and lift your brands awareness with the public. After a successful Limassol expo, I was keen to catch up with Thomas Kareklas from Panda TS. I was really happy to learn more about the new crypto offering that they are rolling out. Based on their previous projects, I was keen to see how they look to dominate their demographic.

BECOME A GAMECHANGER. Let the world hear your story.

We spent some time with my good friend Rudolf Medvedev from Ternion who are currently in the ICO stage of what I believe will be a fantastic project. My old FX associate Youseef Barakat from Probus FX was pleased to invite Game Changers to his plush Limassol offices, for a run down on his visionfor Probus FX. Former Game Changers cover star and the driving force behind many successful projects, Mikael Breinholst from Coinify gives us his insight into what direction he sees his industry taking.

Industry stalwart Brad Alexander from FX Large gives us his views on cryptoâ&#x20AC;&#x2122;s and how it can align with your FX brokerage. As ever, thanks for reading this monthâ&#x20AC;&#x2122;s issue and for your continued support of Game Changers. It really is truly humbling the positive feedback that we get back every month. Keep changing the game!

Paul ORFORD EDITOR-IN-CHIEF

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Rewriting The Rules Of Sports Marketing SUNNY SINGH CEO of VAN HAWKE SPORTS

Sunny Singh is the CEO and founder of VAN HAKWE SPORTS, the world’s first sports marketing agency that assists brands operating in the FX and Cryptocurrency sectors. VAN HAWKE SPORTS leverages proven industry knowledge and expertise to increase brand presence via sports sponsorships and client activation initiatives. Before establishing VAN HAWKE SPORTS, Sunny held several senior marketing positions within the Foreign Exchange (FX) industry for firms including, LMAX Exchange, Hantec Markets and ODL Securities. In addition, Sunny has consulted for a number of startups operating in the Cryptocurrency and Blockchain communities, generating successful route to market strategies. Sunny is also a Guinness World Record Holder, having taken part in the ‘Most Northerly Rugby Match’ alongside other business leaders and Rugby professionals.

Sunny Singh CEO of Van Hawke Sports.

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Q You have a huge background in marketing FX. What led you to take your first job at ODL Securities? I had always been interested in the financial markets and in particular Foreign Exchange. Prior to venturing into FX, I held several marketing roles with retail fashion brands, where proactive marketing strategies were commonplace. In fact, in some instances we were working on campaigns up to 12 months in advance of a product range being released. I was acutely aware that marketing practices within the FX industry were seemingly reactive in nature, especially after the financial crisis of 07/08. Marketing departments in FX lacked the skillsets to operate new marketing systems, which centred on lead acquisition and scoring techniques. ODL at the time was a leading retail broker offering an array of FX products, and was adopting new marketing technologies to reduce lead wastage and automate the lead nurture process. The firm fitted the exact profile of a company I was seeking to join when taking my first step into the world of Foreign Exchange. Sunny Singh CEO of Van Hawke Sports.

Q Since you were there way back in 2008, how has the message changed in getting your brand out there? Interestingly many of the techniques and practices for lead generation that were pioneered then are still commonly in use today across the FX industry, albeit with a few modern enhancements, most notably the advent and assimilation of social media. Nevertheless, for retail brokers the core marketing strategy has always been and still is brand awareness. Whether that is brand awareness for client acquisition or brand awareness to consolidate their market position. The methodology by which brand awareness takes place still involves staples such as online and offline advertising via industry specific outlets and publications, with the first incorporating elements such as contextual advertising to improve ROI. In addition, Adwords and SEO remain to play a big part in lead acquisition as does email marketing. IB and referrer networks are still alive and strong and can assist in minimising CPA rates. The explosion of social media has created influencer marketing channels and in some instances even crafted new revenue channels with copy-trading now becoming mainstream. Industry conferences and exhibitions are now also larger components of any FX marketing strategy as is thought leadership, whereby a broker or representative will specialise in one particular subject to present themselves as the experts, which in turn builds trust with the target audience. Sports sponsorship is now increasingly commonplace to raise awareness, with FX brands seeking to differentiate themselves from peers whilst also targeting a mass global

GAME CHANGERS Issue #13

audience. Sports sponsorship presents many advantages for brokers, especially those that are still gaining a foothold, as a recognised team from a reputable sport can add credibility to an FX brand especially when positioned alongside other blue chip companies. Sports sponsorship also allows the circumnavigation of complex regulatory issues within certain jurisdictions, for example China where FX trading is still (technically) illegal. Weâ&#x20AC;&#x2122;ve already seen numerous examples of brands utilising sponsorship of a football team in Europe where the extensive television coverage of the top leagues allows their brand to be shown in regions otherwise unattainable via more conventional means. In addition, the global viewing figures alone for some sports can justify the need to utilise sports assets to raise brand awareness. To put that into context; Formula 1 has approximately a 1.6 billion cumulative audience across 200 territories. Football has an even larger audience at 4.7 billion which spans 202 countries, with an average EPL game being watched live by 80 million people. Currently no other form of marketing compares to the huge exposure that sport sponsorship can provide when concentrating on brand awareness to a mass audience. Q When you were at another industry leader LMAX, did you see a noticeable difference in how you had to portray an institutional brand? There are many commonalities in the marketing of an institutional FX brand to that of a retail FX orientated brand. Both types seek to consolidate themselves in saturated market

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CONNECTING FX & CRYPTO BRANDS WITH SPORTS

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places whilst also concentrating on client acquisition. The main difference is the size of the target market. Where retail brands are in pursuit of the masses, institutional brands have a much more niche audience that has different requirements with regards to services offered. The marketing packaging of ‘liquidity provision’ is very different to that of ’zero spreads’ or ‘trading bonus’ scheme incentives. Institutional FX marketing is more restrained and repetition focused, with campaigns being executed over a longer timeline. It is worth noting that the on boarding of a broker, fund or bank can be more time intensive and consuming than that of an individual trader depositing $500. That said the techniques used to raise brand awareness are similar. A top down approach is generally executed, whereby an institutional brand will seek to join the debate of pressing industry topics and contribute their voice via conferences and events. Similar to that of a retail FX brand, an institutional brand can establish themselves as the expert in a particular subject, which in turn leads to trust from the target audience. Any social media activities are generally concentrated on this element as opposed to direct lead generation. In addition, both online and offline advertising are much more prevalent

and consistent within certain industry specific publications and outlets. This is normally coupled with a notable increase in PR activity to establish credibility, not only amongst peers but also in the wider financial community. This yet again assists in the establishing of trust with the target audience as the firm cements itself as an expert in ‘X’ discussion. Bespoke activation events are also utilised to create a platform to engage with both existing and prospective clients, whilst also adopting a ‘soft sell’ strategy where the brand is continuously referenced. This can occur in a unique environment, such as around a sporting event to set it apart from other activations, which creates a truly memorable experience for attendees, who will in turn then associate the brand with quality and prestige. It is this activation element that then plays heavily into the marketing strategy for an institutional FX brand when seeking sports sponsorship opportunities in addition to the mainstay brand exposure. Q We have all sat through briefs where a marketing agency has not understood the ethos of a brand. Is that what led you to set up Van Hawke Sports? Most definitely. FX is a niche product however it is the largest global asset class traded daily. It always amazed

Candian GP McLaren Activation Hockey Puck challenge Montreal Canadiens.

GAME CHANGERS Issue #13

me that when meeting with agencies how little they knew of what we do as business, in particular, how FX can be marketed to a target audience. For many years I listened to pitches and viewed generic presentations that centred around the exposure offered from these sporting assets in terms of their reach, but yet did not account for the sponsoring firm’s objectives and ROI. In all instances I found myself liaising and negotiating sports sponsorship packages directly with the rights-holder. Not only did this negate the stringent multi-year deals that are common place in most sports, but also provided the brand with the exact package required based around the internal set objectives. All metrics were then agreed with the rights-holder which would prove validity of the i nitiative via ROI. This extensive experience allowed me to gain invaluable insight to a rights-holders’ requirements as well as the agency model whilst building on the in-house FX marketing experience I already possessed. Q How has your day to day role changed by being the CEO? If you want to be the best you have to learn from the best. I have been very privileged to have worked in my career for some of the best business minds in the industry and beyond. One thing that was instilled upon me from each of them is the need to know your own business. The need to know where you started, where you are and where you are going and most importantly to trust your ability to only hire and work with the best to execute your vision. Currently as a CEO my day to day is very hands on in every aspect of the business. That can involve anything and everything, from corporate strategy, account management, client meetings and even making the odd cup of tea. We are currently a small team of ten with a global remit, however what we have achieved in such a short space of time is remarkable, which is full testament to the team and their abilities to deliver for each of our clients. Our mantra is ‘One Team One Dream’ and

it is that mentality of working as a collective which propels us forward to provide the very best service for brands operating in the FX and Crypto sectors. Q How can a sports brand lift my image in the media? Lets say I wanted to boost the name of a Blockchain project or new Cryptocurrency I was looking to launch? As mentioned previously, the association with a sports property can assist brands to instil values such as legitimacy and credibility to their target audience, especially when the company is positioned alongside incumbents from other industries. There are currently a number of hurdles and barriers to overcome when successfully marketing blockchain projects and cryptocurrency to a mass audience. Companies have to compete in an over saturated marketplace to consolidate their positions whilst attempting to increase client acquisition, all within a framework of non-regulation where now traditional forms of advertising such as online is being heavily restricted if not banned altogether. Evidence of this is the recent update to Googleâ&#x20AC;&#x2122;s advertising policy whereby cryptocurrency related ads are now banned from all platforms. The new guidelines follow similar bans from Facebook, Twitter, Instagram and Reddit. Marketing teams for such firms need to be creative with their strategies and mindful of the benefits sports sponsorship seemingly allows when circumnavigating such restrictions. In addition, sports marketing has the added benefit of being able to expose a brand to a mass global audience via sports

such as eSports, which is expected to have over 500 million fans by 2020. Currently no other form of marketing compares to the huge exposure that sport sponsorship can provide when concentrating on brand awareness to a mass audience. Q How does Van Hawke Sports plan to dominate the market? At Van Hawke Sports, we have a clear mandate which is to put our customers first. We work hand in hand with every one of our clients to essentially serve as a natural extension of their teams. We cater exclusively for the FX and Crypto markets and provide industry specific services that have been crafted from real-world experience of actually serving in these fields. I am pleased to say, that to date we have successfully assisted a number of brands with their sports marketing and consultancy needs, and as a relatively new company we are well on track with our growth trajectory. With the ongoing adoption of sports marketing as a key component of a comprehensive marketing strategy, we are witnessing first hand an increase in the number of calls being received daily. In many instances we provide free initial consultations, as we believe that the building of trust is vital when initiating long-term relationships. It is by adopting a step-by-step approach that we will achieve market domination. I can sum up by saying that Van Hawke Sports is very well placed for the future and should be the first port of call for any company seeking sports marketing opportunities, brand ambassadors and client activation. Moving forward we look forward to working with all brands in the FX and Crypto sectors.

P-9 Candian GP McLaren Activation Shirt Swap Montreal Canadiens.

Endangered Species…… No Chance !! THOMAS KAREKLAS Vice President of Sales.

With over a decade of providing technology solutions to the financial services industry, Panda Trading Systems is not only the industry veteran, but with its reputation of providing solid, reliable and sophisticated systems has earned the title of industry leader. With a portfolio of clients across 26 countries, this equates to 10’s of thousands of industry personnel and 100’s of thousands of traders around the world who rely on Pandas technology for success. In this exclusive interview, Game Changers sits down with Thomas Kareklas VP Sales at Panda Trading Systems to discuss how and why Panda has been so successful and what’s in store for the future. Q Thomas, tell us about your journey leading up to working at PandaTS. I have been very fortunate to have worked for some global organisations and international brands in industrial, commercial and corporate industries, both in the UK and here in Cyprus. During the past 25 years my career has seen me take on various managerial roles with the main focus being on sales and business development. In 2009, I started my journey within the on-line trading industry again holding managerial positions in several retail FX brokerages. I gained invaluable experience and know-how of the industry and of how brokerages operate, and over the years I have met some amazing people. Now that I am with Panda Trading Systems on the B2B side of the industry, I am able to put all that experience and know-how to good use, as I know exactly what is required in order to run a successful brokerage and have a complete understanding of the technological needs and requirements, as well as an empathic view from a departmental and management standpoint.

Thomas Kareklas Vice President of Sales at Panda TS.

Q So, who are Panda? Panda Trading Systems is a Fintech company that first started providing bespoke technology solutions to the financial services industry back in 2007. The Panda motto was and still is “Making Online Trading Better for Everyone”, and to this day this ethos is still something that echoes throughout the organisation. Over the past 11+ years we have continuously invested in developing our technology, not only to maintain our competitive advantage, but to also ensure that our clients, and in turn their clients are using the latest in cutting edge systems. This ensures that our clients, the brokerages, have all the necessary tools and systems at their disposal in order to effectively and efficiently run their businesses, and to also ensure that their clients, the investors,

GAME CHANGERS Issue #13

are trading on modern, secure, user-friendly and solid trading platforms across desktop, web and mobile trading environments. Our systems comply with regulatory standards around the world, thus provide safe, ethical and transparent environments. Q Who would be your ideal client? We are known for providing full brokerage solutions, and our reputation is one of having very long term partnerships and the natural ability to nature and help brokerages grow. Our solutions do not restrict expansion, in fact they embrace it, we have a dedicated “Client Success” department whose sole purpose is to ensure that our clients businesses flourish. So

with all that being said, a Panda client could be any one from a brand new start-up to a mature brokerage and everything in between, as long as the ambition and desire to grow exists and they want to provide ethical and transparent services to clients Panda can help. In addition to our technology via our synergies, we are also able to introduce clients to LP’s, PSP’s and Affiliates as well as lawyers who can help with incorporating companies and bank accounts as well as help with licensing and regulation. Q In such a competitive industry, what do believe makes Panda so unique? There are many factors that contribute as to why Panda are so different. I think that by being in the industry for so many years we understand the “pain points” and the necessity of being dynamic and flexible in order to keep providing solutions that work. This comes from maintaining very good and close relationships with our clients, we listen to their needs, and we also follow the market trends and continuously update and develop our technology, thus providing customisable feature rich solutions. Q So what’s new at Panda? Quite simply Crypto… As you know we were one of the first technology providers to offer Crypto trading environments, but now we have gone one step further. At the iFXExpo in May we introduced a complete Crypto Exchange Eco System to our portfolio. This puts us in a unique position as we now provide a full suite of brokerage solutions and trading environments for FX/CFD/Crypto, as well as now providing full Crypto Exchange solutions. Q OK, so you walk in to an elevator and you see Bill Gates, and he asks, what are Panda’s TOP 5 Key selling points, how do you respond? Well, if I had 10 seconds with Bill, I would say that for the following 5 reasons this is why Panda Trading Systems should be your provider of choice.

1. The only company that is able to provide both MT4 & MT5 FX/CFD/Crypto trading solutions as well as a complete Crypto Exchange Eco System. 2. A true SSV (Single Source Vendor) – Complete endto-end solutions - No need for 3rd parties, all systems are designed, built and developed in-house. 3. We have a very powerful yet easy to use, permissions based inter-departmental CRM/BO/BI system that is used by everyone at all levels, it can be tailored to suit the operational needs of any brokerage and it provides a complete 360° view of the entire operation with a single log in. 4.

Thomas Kareklas Vice President of Sales at Panda TS.

Advanced encryption and data security protocols that protect both the brokerage from external and internal data breaches, as well as all their client’s confidential information. Q So what’s next for Panda? Well Paul, there is a lot going on, but I can’t divulge anything right now, the only thing I can say is keep watching and all shall be revealed!! Thomas, it has been a pleasure having you here today, we will definitely be keeping a close eye on Panda and look forward to seeing what comes next from you guys. What the best way to get in touch to find out more about what you can offer and to book a demo? You can get in touch with us on the following contacts: +44 203 519 5199

thomas@pandats.com

+972 72 2111 611

info@pandats.com

A safe and secure client area and fully functional trading environments for traders – providing the ultimate in client user experience.

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About Ternion Ternion connects traditional finance with the decentralized future. Our ecosystem is built on a functioning business model that combines eminence of the traditional financial structures and utility of the crypto sphere. The ecosystem consists of the regulated Ternion Exchange that circulates both crypto and fiat and will operate under an Estonian crypto trading license. The Ternion Liquidity Fund helps to sustain liquidity in the exchange and the Ternion payment system; and a payment system makes financial transactions between sellers and vendors convenient for both parties. We have a working demo version of the Ternion Exchange with the same trading experience as in the final product ready. We are KYC and AML compliant and we operate with trust and accountability as our guiding principles. We understand the importance and benefits of legal regulations: the crypto trading license will position us as one of the most successful and top market players for institutional trading. Our team and advisors help us to build a platform that will attract a vivid community of crypto enthusiasts for its integrity and credibility. At Ternion, we respond to the moment and fill the void on the market by always striving for advancement and providing solutions to the problems that people face in the sphere. Our mission is to make cryptocurrency usable in the real world and set the right course for the emerging market players.

Rudolf Medvedevs Founder and CEO of Ternion.

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Ternion RUDOLF MEDVEDEVS Founder and CEO of Ternion

Q To the uninitiated raising funds for an ICO seems like a tough task. What is your strategy? In reality, it all depends on how you want to raise funds. Our strategy always relied upon decency and trust. This is why we put all our names on it. In the end of the day, any investor or a partner is a human being. And one of the things they appreciate the most is honesty and results delivery. We went into the project with these two main things as our guiding principles. Q How does Ternion set itself apart, and seem such an attractive proposition to the end user? We have always been doing our best to gain a competitive edge over the overall market. This time cannot be any different. The market had a problem. We saw it. We understood the risks, but we couldn’t miss a window of opportunity. So, we decided to make Ternion a reality. When we were just writing the first Whitepaper draft, there were no exchange-related ICOs except for the decentralized ones. That was in early March. Now everyone is creating them. But what distinguishes us from the others is that we already have an approved European Crypto Exchange License to operate with. We have the necessary

GAME CHANGERS Issue #13

Rudolf Medvedevs Founder and CEO of Ternion.

infrastructure in place to start working. So, when people join Ternion, they are already joining a functioning product, which clients and partners are already utilizing. Q Many may believe that going on the road to raise funds for your ICO is a glamorous lifestyle, of eating in fine restaurants and persuading likely investors to join. Can you describe a day in the life of raising funds for your project? Most likely the person who said that had not done an ICO. Doing an ICO is basically a vicious cycle of endless conference calls, meetings, planning fundraisings and trying to figure out if a service provider that you relied on for a certain task will deliver promised results at some point or not. It is an endless jet lag, but there are also visits to amazing countries, although you leave them without even exploring. But I knew what I was getting into and I knew the challenges I would face. And I welcome these challenges, for there are no dreams without occasional nightmares. Q Besides the product, what tips would you give others on raising funds via an ICO?

Double check every service provider 10 times. No matter how boring it might sound but get everything down on paper. That will help you a lot when it comes to the deliverables later. Work on your MVP more than on the ICO itself. In the end of the day, you are raising capital for the product, not for the sake of capital itself. Q What’s the plans for Ternion post pre ICO? Post Pre-ICO, in my opinion, is going to be even bigger than now. We didn’t have a lot of publicity during the private stage as we were focused on the development of the exchange. And I am not the type of person that likes to shout and brag about every little thing I do. After the Pre-ICO we will be already working our way up the ladder in CoinMarketCap to beat trading volumes of other exchanges. We will not only be gathering funds for the ICO, but we will also be gathering clients to trade on the Ternion Exchange. And that will happen literally 2 months from now. We will continue delivering and developing, and we will change the world together in the industry that we know best, in times when it is needed the most.

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YOUSEFF BARAKAT CEO of Probus FX. Q Its great to feature you in the magazine this month, the readers are not aware that we have known each other for many years. Can you give the readers a brief outline of your hugely successful track record as a leading name in Finance? Hello Paul, it’s always nice to see you again and let me begin by thanking you for featuring us in your magazine. So, answering your question, I began as a Financier right after my graduation. I first found employment in London’s financial services sector. I was soon trusted to hold managerial and executive positions in the various companies I worked for. Through the span of more than 20 years, my career has seen me travelling and residing in many places around the world where I had to oversee operations and tend to the needs of the companies I was responsible for. Q As you just said, you have worked in many different regions. So, my next question to you is, what took you to Cyprus with ProbusFX? Cyprus is the ideal place for founding a globally focused financial service provider like ProbusFX. The island’s economy, the fact that it is a member state of the European Union and also its strategic geographical location in the eastern Mediterranean, are helping the place transform into a robust financial hub that can connect 3 different continents: Europe – Asia – Africa. Understandably, the prime conditions offered by Cyprus had many other major names in Finance relocating headquarters here as well. Q From my basic understanding of Latin, I remembered that probus means both thorough and honest. Did this ethos attract you to joining the company as CEO? Yes, indeed the word Probus has both meanings in Latin. In all our business interactions I am adamant on being both thorough and honest. I believe that the prerequisite for healthy business relationships is achieving and maintaining a reciprocal level of trust and reliance. And there is no other way to do so but by being honest and thorough in everything that we do. Q With the retail market awash with many brokerages now, how do you set yourself apart. Is there a specific service or region that you like to focus on? Our main focus is providing True STP trading to our clients. We aim at empowering traders through technology by providing them direct market access with the minimum achievable latencies in market order execution. With our services being hosted by one of the biggest and most prominent server hosts, London’s Equinix 4D, we can guarantee execution is almost instant with just a few milliseconds of latency being truly negligible. Direct access to the market also means Live-realtime prices and no dealing desk, so we do not manipulate the markets and prices to our advantage. Actually, with our STP model we are unable to do so, which negates any conflict of

Youseff Barakat CEO of Probus FX.

interest that could possibly arise between us and the client; we do not engage in market making nor do we trade against our traders. Our goal is the success of our clients. If we manage to help them succeed then we consider it as our success as well. Regarding regional focus, we are currently focusing on Europe but we are soon planning on expanding to other markets. Q As a veteran of the industry, what tips can you give to the readers for keeping yourself at the top for such a long time? It’s not complicated and it really boils down to two things. A) Always listen to your customers. Actively listen and show real interest. Try to understand their needs and situation and try to adapt your product and services to accommodate them. And not only at the beginning when you are building your company, but even when you managed to become a big name. Reaching the top is much easier than holding your place there. B) Always respect and acknowledge the people working with you in your company. Job roles are just that; roles and functions, not social standing and status. Don’t think you are better just because you are managing or directing. When you treat your employees like people and not like replaceable cogs in a machine then you create a working environment and culture that will eagerly and readily support you all the way in achieving your corporate goals and vision. A captain without a crew cannot sail his ship very far, if at all. Q With an ever-changing FX market, where do you see the industry going over the next couple of years? Well, the big trend that many in the industry are following nowadays is Cryptocurrency. But cryptocurrency is still at its infancy with many new forms of it sprouting out almost every next month. We are currently witnessing shifts in the industry towards Cryptos but being such an extremely volatile matter, I feel that it is safer not to predict with certainty whether it will transform the industry in the very near future. I guess we will have to wait and see. P - 17

Coinify ApS MIKAEL BRIENHOLST Head of Trade Platform Coinify ApS

Q It’s great to have you back in Game Changers. In case our readers are not aware, Mikael was one of the first people we interviewed for this publication. Can you outline to our readers what you have been up to this year? It has been a very exciting year so far. After years of leading Tradeworks, the algorithmic trading company which I founded in 2013, I felt that it was time for me to move further - towards the world of blockchain. Now, as the Head of Trading Platform at Coinify, I am part of a great team that supports financial innovation. We take the best practices from the traditional trading and payment worlds, and apply them to the virtual currency space. Q Coinify was established in 2014 and that counts as being around for a long time in the crypto space. Having such pedigree, does this give you any major advantage over your competitors? Yes, indeed. Coinify has proven itself time and time again with its successful business model and by outliving a lot of competitors. But we cannot rest on our laurels. Just like the online forex industry was shaking up the established financial industry with fast innovation 5-10 years ago, the blockchain industry today is moving 10-times faster of that. Q One of the challenges I faced last summer was signing up to the exchanges with a different passport location to my IP address. The support on the major exchanges was terrible. How can Coinify improve on this challenge? This is a great example of a user experience challenge in a maturing industry. Many industries that were founded by visionaries and revolutionaries wanting to change the world, have not had user experience among their top priorities, but rather improved it as part of the process. Also, as there is very little regulation in place, many compa-

GAME CHANGERS Issue #13

Mikael Brienholst Head of Trade Platform at Coinify ApS.

nies have to choose between blindly following the established compliance guidelines from the traditional financial industry—which have not been created for the emerging blockchain space—or making up their adapted versions of it, which need more calibrating. We are going to great lengths in adopting the best practices from the existing financial industry, whilst proactively participating in the dialogue on how to best apply a regulatory framework to our industry. Q With many new projects starting off in the brave new world of blockchain, what sets Coinify apart from the others? Simply put, we deliver real value today. We help traders to move in and out of virtual currencies every minute and every hour, each day. Q Coinify also offers payment processing services. Are there any specific markets that are benefiting from this type of payment the most?

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Virtual currencies like bitcoin are payment methods created specifically for online environments, offering benefits like security and speed that credit card payments lack. Thus, there is no specification of the markets they are applicable to. Rather, they are best suited for any business that performs frequent payment transactions via the internet, such as online merchants and webshops. Take for example, the growing potential of virtual currency use cases in industries with a lower profit margin, whereby owners can benefit from gaining more revenue with the fast and instantaneous payment processing that a decentralized virtual currency offers. This alternative payment method is also a boon to some countries where traditional payment options are just not on the table due to limitations such as hyperinflation or corrupt governmental systems. This has given Coinify an almost limitless playing field to work within in terms of offering our payment processing services. We have partnered with various Payment Service Providers, merchants and webshops within numerous markets that can now accept payments in 15 different cryptocurrencies. Q With the blockchain industry constantly evolving, do you have any idea where will it be in the next few years? As a concept, blockchain technology is not only here to stay, but it will have a greater impact than the dotcom hype from 20 years ago. This is happening at a staggering rate that has never been seen before. I believe that we will see a widespread adoption of virtual currencies, much faster than any can imagine today. This can happen thanks to top-down adoption by government(s) and/or central bank(s), or directly from the ground up by demand from the masses. Regulations that allow shops to reject cash payments are now in effect in several countries including Denmark. Even today, we are witnessing how societies are transforming towards more digitalised transaction systems. In 5 years, we will see families that are not only living cashless, but also fiat-less.

CHANGERS MikaelGAME Breinholst (Head ofIssue Trade#13 Platform at Coinify) and Mark HĂ¸jgaard (CEO and Co-Founder at Coinify).

FX Large BRAD ALEXANDER CEO and Founder of FX Large

Brad Alexander CEO and Founder of FX Large.

In an industry that is being regulated more and more every year, content is more important than ever. Looking at all media, video has the highest potential for user engagement, education and SEO. Brad Alexander is CEO of a London-based Financial Services content provider — FX Large Limited. The company provides written, graphic and video based content, for financial services, for Marketing, Education and Customer Support. Their clients use the content for Customer Acquisition, Customer Motivation and Retention, Instruction and, of course, for SEO.

Q Having viewed the product you produce what would you say is FX Large’s USP for the retail trading industry? We have had more than one client comment on the fact that, as we are in the industry, we understand the market, the products and, of course, trading, which makes it far easier for us to interpret client requirements. It is very common for any company to go to a video production company, or pull together a group of subcontractors, to create bespoke content. The problem arises when you have to explain, to each individual, what you are trying to do and the goals you are trying to achieve. Copywriters, graphic artists, video editors and voice over

artists , unless they have specific industry experience have to go through a steep learning curve. This can cause brokers, educators and fintech companies to spend a lot of extra time and money to reach the end product.

a government scandal. My obvious first thought was that the Italian Lira might rise again once the crisis had passed. At the time, I didn’t know this was called “fundamental analysis”. It just seemed to be common sense to me.

Working with us, marketing people like the fact that they don’t have to spend days or weeks writing scripts and storyboards. We do it for them and then go through a process of tweaking and refinement. Q So, you say you have experience trading. How did that come about?

I started following the currency markets from then and have been in love with it ever since. Even before online trading, my wife and I took advantage of currency fluctuations simply be transferring money through various international bank accounts. (Currency trading the hard way). When people ask me, “How long have you been trading?”, I answer, “I used to trade the Peseta.”

I think I was about 11 years old when I heard a news story on the radio about how the Italian Lira had fallen based on

We have made property decisions based more on exchange rates than the actual value of the property.

P - 21

Q Then eventually to online trading? Funny story! I spent years as a marketing consultant and one evening I went to what I thought was a networking event on behalf of a client. It was actually a complete misrepresentation put on by a forex educator hoping to snare unsuspecting victims. The whole thing was worse than a dodgy timeshare presentation with the presenter goading and humiliating various member of the audience: “What’s wrong with you? Why don’t you want to be rich and successful??”

Q So, if you have looked at our industry from so many angles, what do you see as the biggest challenges and opportunities for the industry? Sure. I’ll answer the second part as it is the easiest answer: Crypto. We, as an industry, have an amazing opportunity to welcome and embrace a new breed of retail traders. We all know that the same technology, platforms and methods are being used with crypto liquidity thereby creating great opportunities for brokers, educators, fintech and content providers.

I was appalled by the presentation but fascinated by the charts and price action on the screen. I then started a journey, that millions of retail traders have started, and had the usual ups and downs. I am still trading today and can safely say that I have small profits on two accounts but I honestly have very little time to devote to trading these days.

This leads me back to the first part of your question. The “easy” answer to the question about challenges to the industry is over-regulation. This is the wrong answer. The correct answer lies in those individual and companies who have absolutely no regard for regulations and are just out to scam innocent potential retail traders, especially the new breed of wanna-be crypto traders.

What trading for myself did for me, however, was to turn me into a fintechno-junkie. Over the years I’ve used and studied myriad charting platforms, indicators, signals, strategies and methods. It is very gratifying to be able to use this knowledge and experience for the benefit of my clients.

I personally get several phone calls every month from “brokers” with no physical address, lots of promises of vast wealth, and no evidence of any regulation. I have great fun winding them up but, let’s face it; it’s not funny. Somewhere out there is a little old lady with a credit card, a pensioner wondering what to do with his pot of money, or a student wondering how to pay off his debts, who will fall prey to these people.

Q So how did all this evolve into what you are doing now? Years ago, an American educator turned me onto an amazing indicator which I still use today. It is built by a company based in Florida and, eventually, I ended up speaking to the president of the company about their product and the FX and metal markets. The first conversation lasted 2 1/2 hours. I was hooked and I started selling for them. After a couple of months of demos to traders, funds and brokers, we realised that the design and functionality of the product was way too complicated and I spent 3 months working with them to redesign and simplify the product. Then came the question of sales and marketing. They had a couple of videos and high profile endorsements but the instructional videos were way too long. Some were over an hour in length. That’s when I took the bull by the horns and started making my own videos. The rest is history. Since then I have worked for brokers, for fintech companies, and continued trading so I’ve benefited from seeing most aspects of the business.

GAME CHANGERS Issue #13

The next phase is very predictable. Innocent people will be scammed out of their hard earned cash and the entire industry will be tarnished (again!). Q You started FX Large Limited over a year ago… just before iFX Cyprus 2017 if I recall. Has it all gone according to plan? Of course not! (he laughs) In some ways it has gone better than planned; in others, just differently. When I first started, I assumed that the bulk of the work would be coming from retail brokers and that fintech projects would be an added bonus. In reality, most of our work is with fintech companies but I have some committed brokers as well that rely on us for content. I like the mix. At the end of the day, I have no trouble getting out of bed every morning to do what we do. I really enjoy it.

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GAME CHANGERS Issue #13