HDR Global Trading Limited, the company behind BitMEX’s experienced crypto derivative platform, has undergone a corporate restructuring and is now referred to as the “100x Group”..
The HDR announced the changes on July 15th and the 100xbased in the Seychelles, will become the new holding structure for HDR and all other assets, including BitMEx.
The ad said that “The new structure gives the group more freedom to explore, incubate and search for new opportunities and investments“”
There are also suggestions that The company can expand to other companies outside of BitMex.
Make investments easier
The 100x Group is run by the founders of HDR, Arthur Hayes, Ben Delo and Sam Reed and has more than 200 employees. The advertising biography of the new holding company states that the 100x group “Researches, incubates and tracks opportunities and investments as part of its mission to redesign the modern digital financial system“”
The co-founder and CEO of 100x Group, Arthur Hayes emphasized the slow and cumbersome nature of the old financial systemin the following words:
“We intend to change the status quo and redesign the modern digital financial system to make it more inclusive and powerful.”
Non-executive chairman of the 100x Group
The restructuring has led to Dr. David Wong has been appointed non-executive chairman of the 100x Groupand is tasked with developing the 100-fold long-term growth strategy.
“BitMEX remains critical to the continued success of our business We will continue to invest in the platform to maintain and expand our leadership position. “Said Wong.
The new president added 100x plans to “have a positive and lasting impact on the development of the digital financial ecosystem of the future”This indicates expansion plans that go beyond the operation of BitMEX.
Wong was appointed non-executive chairman of HDR on June 30 Previously, he held management positions at the Bank of China and ABN AMRO Bank..