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FalconX Boosts APAC Operations With New Hire

The crypto prime brokerage is bolstering its over-the-counter derivatives business in the APAC market.

Ivan Lim, Trading Manager, APAC Derivatives, FalconX (Image: LinkedIn)

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Digital assets prime brokerage FalconX on Tuesday announced the strategic expansion of its Asia Pacific operations with the appointment of Ivan Lim as Trading Manager, APAC derivatives, based out of the firm’s Singapore office.

Lim previously spent 12 years on the sell-side as a derivative trader managing crypto and FX portfolios. His expertise includes principal market-making, risk management and execution strategies. He started his career in banking, holding various roles at Citibank and CIC, and later transitioned into the digital assets space. As head of trading at Sparrow Exchange, Lim was instrumental in developing innovative structured products, and also spearheaded franchise development at Genesis, according to the announcement.

"We have experienced robust growth in our OTC derivatives business and anticipate this momentum to build as APAC traders increasingly adopt digital asset derivatives and structured products,” said Matt Long, APAC general manager at FalconX. “Ivan is an authoritative voice in the region, and his addition to our team will enable us to satisfy the growing demand from our customers.

Long added that FalconX expects digital asset structured products to become integral to the investment portfolios of institutional and professional investors in the coming years.

Growing Business

Industry veteran Long, along with chief compliance officer Ave King joined FalconX about a year ago as the company expanded its global presence to Singapore, where it launched its APAC derivatives business.

The international expansion followed a year of significant growth for the company, which closed out 2022 with an $8 billion valuation after a $150 million Series D funding round led by B Capital and Singapore sovereign wealth fund GIC.

The company is also backed by investors including Accel, Adams Street Partners, Altimeter Capital, American Express Ventures, Lightspeed Venture Partners, Sapphire Ventures, Thoma Bravo, Tiger Global Management and Wellington Management. FalconX has offices in Silicon Valley, New York, London, Hong Kong, Bengaluru, Singapore and Valletta.