Derek Edward Schloss, Director of Strategy for Security Token Academy, interviews guests Michael Oved and Todd Lippiatt of Fluidity Factora — a recently merged team upgrading financial infrastructure by refactoring real-world assets as blockchain tokens.
Derek Edward Schloss (TDW): Oved and Todd, great to have you as the first guests on The Digital Wrapper. Let’s start with your backgrounds. Oved, want to kick us off?
Michael Oved (Fluidity): Sounds great. I studied mathematics at Carnegie Mellon and then joined Virtu Financial in 2008, which at the time was a team of 40. We grew it to a massive trading powerhouse, now a household name, and one of the largest trading firms in the world. I built out the Asia portion of Virtu and turned that into a multimillion-dollar business within the wider business, which helped us IPO¹ in 2015.
Derek Edward Schloss: What’d you do after the IPO?
Michael Oved: I took some time off, and kind of by accident, I met Joe Lubin² at a music festival in early 2016 and learned about Ethereum³. I started to really look at the space — everyone was talking about decentralized exchanges⁴ on message boards. I met with my Co-Founder Don Mosites, and we used our experience in financial markets and design to develop the Swap Protocol. That whitepaper went viral and put the decentralized trading platform we built, AirSwap, on the map.
Derek Edward Schloss: Todd, you’re the Founder/CEO of Propellr, a platform, and integrated broker-dealer structuring, managing, and servicing digital assets/securities. What’s your background, and how’d you find yourself in the blockchain space structuring security token deals with Fluidity?
Todd Lippiatt (Factora): My first job out of school was on Wall Street as a programmer, doing front line mortgage analytics for Credit Suisse. Within 18 months, one of the analytics packages I wrote brought me down to the trading desk, and I ended up trading fixed income mortgages over a few firms, creating and trading a bunch of structured products. Fast-forwarding a few years, I got offered to be a direct lender in NYC for hedge funds, and managed to survive the financial crisis without really losing principal on any of the deals, which helped generate new business on the institutional side.
Derek Edward Schloss: Nicely done.
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