XBTO is proud to again be the title sponsor for Bitcoin Magazine’s “bitcoin2022 conference” to be held at the Miami Beach Convention Center, April 6-9, 2022

XBTO CEO Philippe Bekhazi looks back on the company on their 7th anniversary

It’s amazing to look back at how far we have come in the seven short years since XBTO grew from an ambitious vision into an established leader in global finance.

Back in 2015 we pooled our financial acumen and decided to serve as a crypto liquidity provider to the very thin and Bitcoin-dominated marketplace of the time. The promise of blockchain was there, but almost none of the necessary infrastructure was in place to bring it to its potential.

We branded as "XBT Opps", named after Bitcoin’s original ticker, XBT and ‘opportunities’. It was an exciting time, building relationships, experiencing the growing-pains and working alongside some of the most brilliant and dedicated pioneers in crypto. At XBTO, our task was to create market depth and consistency. In a word “liquidity”. We built the connections so that counterparties could always find a trading partner and so the markets never turned off.

As time went on, we ran our own book and began to focus more on taming volatility and improving price for our institutional partners. We made markets and provided liquidity to some of the largest exchanges. We’ve also been at the forefront of derivatives trading and involved early with some of the most well-known DeFi protocols.

In 2017 we began to expand into venture capital in the crypto space with XBTO Ventures. We also launched the XBTO Humla fund in 2020 to manage accredited investor capital.

We were early investors in Deribit exchange and are now jointly launching the first institutional-grade OTC block-trading and communications platform for crypto-derivatives with Paradigm. We also recently invested in Lukka, providing software solutions to streamline the middle and back-office functions of global finance.

Humla focuses investment on some of the most promising disruptive players and segments in crypto, for example we made an investment in Valkyrie who sponsored the second Bitcoin Futures ETF and also just announced the first bitcoin mining ETF with a strong emphasis on GSE responsible companies.

XBTO was one of the main sponsors of Bitcoin 2021 and 

. In April of last year we opened our Miami office, then in September, we announced our 

 as their first-ever jersey sponsor. This was done in co-ownership with entrepreneur Jorge Mas and soccer star David Beckham and was among the largest Major League Soccer sponsorship deals to date.

" goes into a great level of detail about our past activities, but we continue to grow every day since then. One of the most significant landmarks of this past year has been the opening of our regulated and licensed digital assets platform, through our company Stablehouse.

Early on we set “the democratization of money” as our end goal at XBTO. The Stablehouse retail platform brings us a step closer. It presents a large cohort of investors with a very easy, user-oriented way to participate in a wide range of cryptocurrencies and stablecoins.

XBTO sees no shortage of opportunity in the future. We will continue to grow with an open mind to all the possibilities of crypto and invest wherever we can make the most meaningful impact.

Kieran Gibbs is converting his pay into Bitcoin

Athlete Kieran Gibbs commits to converting half of his salary into bitcoin through the world leader in cryptofinance.

XBTO, a global, institutional cryptofinance market maker and asset manager, announced a partnership with Inter Miami CF star 

 as the official facilitator converting 50 percent of Gibbs’ annual salary into bitcoin while strategically leveraging XBTO to avoid conversion fees typically charged on alternate platforms.

As a world leader in cryptofinance, XBTO is equipped with the expertise and resources to effectively collaborate with Gibbs. Beginning in December 2021, half of Gibbs’ salary will be transferred to XBTO, where XBTO will convert his USD into bitcoin — without charging any conversion fees — and send the bitcoin directly to Gibbs’ hard custodial wallet. XBTO’s trading desk has extensive experience structuring and executing complex trades, with deep access to global liquidity. These capabilities are leveraged to obtain the best price even for relatively straightforward transactions. In addition, XBTO has an ESG compliant mining operation utilizing hydroelectric power which gives direct access to freshly mined coins.

This progressive deal establishes Gibbs as the first US-Based Major League Soccer player, and first Inter Miami player, to publicly announce the transfer of a portion of his salary into crypto.

“I’ve been a fan of bitcoin and the crypto space for some time now, and I believe they have the ability to break down huge social and economic barriers — crypto is for everyone,” said Gibbs. “I hope my partnership with XBTO can further the awareness and education of cryptocurrencies and their tremendous potential to positively impact global societies.”

Earlier this year, XBTO established itself as the first cryptofinance firm to partner with an MLS team, where it signed the largest sponsorship deal in league history with Inter Miami. This continues XBTO’s history of innovation in the cryptofinance space, being one of the first companies to provide institutional-grade liquidity to the world’s largest crypto exchanges and institutions. Furthermore, in 2019 XBTO and cryptofinance fund Galaxy Digital carried out the first-ever block trade of a bitcoin futures contract on Bakkt, the bitcoin futures platform launched by NYSE parent InterContinental Exchange. These contracts were subsequently physically settled which was the first instance of physical delivery of a digital asset under existing U.S. commodity futures laws and regulations.

“Some struggle to see that crypto is a new asset class that is here to stay and that it can unlock remarkable opportunities, so we’re pleased to work with Kieran who is bringing attention to the incredible utility of crypto assets,” said Philippe Bekhazi, CEO of XBTO. “As someone with a massive platform of trusted fans and followers, we’re excited to help Kieran show the soccer community that engaging with bitcoin is a legitimate, and often superior, way of receiving value.”

XBTO is joining Pyth

XBTO is proud to partner with the Pyth Network as its newest contributing data originator.

Established in 2015, XBTO was one of the ﬁrst market participants to provide institutional-grade liquidity to major trading platforms. Since then, XBTO has become a recognized and leading proprietary algorithmic trader and venture capital firm.

XBTO is teaming up with Pyth Network, a next-generation, decentralized “oracle network” built on the Solana blockchain with cross-chain capabilities via Wormhole. Pyth serves as an oracle solution connecting leading exchanges and top trading firms holding real-world market data, with smart contracts on-chain. It is designed to do so anywhere across blockchains, and with sub-second speeds. Pyth, like XBTO, strives to establish stability, trust, and transparency throughout the cryptofinance industry.

The fundamental issue Pyth seeks to address is that decentralized finance often can’t get the access it needs to accurate, time-sensitive, real world data. Pyth depends upon contributions from partners, including XBTO to source the massive amount of high integrity and high-fidelity financial data necessary to help DeFi. It harnesses this data to create reliable and decentralized sources of high fidelity composite market data, and to establish a cross-chain market of verifiable data from quality providers. XBTO is proud to join the ranks of such an impressive list of nearly 40 data providers committed to the Pyth network.

With its proprietary technologies and unmatched expertise, many crypto exchanges working with XBTO have successfully reduced price volatility and offered enhanced spreads. On Pyth, prices are composed by aggregating data streams, weighing the results, and then conveying prices with an accompanying confidence rating. The confidence rating or “interval” can widen when markets are irregular and contract when they are orderly. This composite formula relies on the quality and indicative conviction of its data providers so that the oracle network can avoid sacrificing decentralization.

Pyth is currently working with several ambitious integration projects, including a trustless cross-chain bridge named Wormhole. Wormhole supports seamless communication between Solana, Ethereum, Terra and the Binance Smart Chain, with more chains to be added in the future. Teams developing projects on any of the supported blockchains can leverage Pyth and immediately begin implementing a high-fidelity oracle in their native protocol. Pyth has established itself at the center of creative development on the Solana blockchain, cultivating a loyal development community of “Pythians” and ensuring Its partnership value long into the future.

XBTO is a global, institutional market maker and asset manager providing cryptofinance trading and liquidity provision to the world’s most established exchanges. Its new partner, Pyth Network is a specialized oracle network with the goal of providing the infrastructure for DeFi by leveraging institutional-grade market data. As such, the oracle network has attracted some of the most prominent traders, exchanges, and financial services players who own unique, high-quality market data. These participants fuel the price discovery process. XBTO brings an expansive suite of products to this relationship, including asset management services, over-the-counter (OTC) trading, streaming markets, institutional and fund-based venture capital, ESG compliant crypto-mining operations, and strategy consultancy services for emerging projects in the digital asset space. XBTO, in concert with the other data originators, provides unwalled, high quality market data in equities, fx, crypto, precious metals and a growing number of asset classes to the Pyth Network.

The Pyth network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens’’ of centralized institutions. The Pyth network is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely. For more information about the Pyth network, please visit 

The Pyth Data Association was created in support of the Pyth network, a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens’’ of centralized institutions. The Pyth Data Association is overseen by a board of directors elected by members of the Pyth network.

XBTO: Origin Story and Evolution

XBTO has been growing rapidly from a liquidity provider to a global crypto finance company. It offers the full range of trading and investment solutions aimed at institutional investors, including platform trading, over-the-counter (OTC) trading, asset management, venture capital (VC), and crypto mining. 

The ambition to make the crypto industry a more secure and welcoming environment is driving XBTO’s efforts to increase its global presence and further diversify its portfolio of products and services while focusing on the entire vertical of how Bitcoin and digital assets integrate with society, governments, and banks.  

The rapid growth of XBTO reflects, to a certain degree, the expansion of the blockchain and digital currency market across all regions and demographics. To meet the growing demand for reliable crypto solutions in an ever-changing industry, XBTO relies on a rigid set of principles and a talented team with extensive experience in trading and finance and has built its reputation over the years by meeting the growing demand for reliable crypto solutions in an ever-changing industry. 

Here is the XBTO story – below we briefly outline the past, present, and future of a leader in crypto finance.

The crypto industry began to emerge about a decade ago, and in the first years, it was all about Bitcoin, which consistently accounted for over 90% of the market up until 2014. Philippe Bekhazi, founder and CEO of XBTO, began studying Bitcoin about two years after the mysterious creator released the whitepaper discussing “a peer-to-peer electronic cash system.”

Bekhazi soon realized that ongoing liquidity was required by the nascent industry required in order for the market to maintain some degree of stability. His experience in derivatives trading and traditional banking provided the necessary knowhow to develop a platform that would become a market maker to some of the largest cryptocurrency exchanges, which serve as the main points of contact between crypto buyers and sellers.

Philippe Bekhazi first ideated XBTO in 2013, and the company officially came to life in 2015, with the founding team comprising Bekhazi, Walton Comer, CIO, and Richad Idris, CTO.

Initially, the company was branded “XBT Opps”, named after Bitcoin’s original ticker, XBT, and ‘opportunities’.

Bekhazi had experienced firsthand how the high volatility on crypto exchanges was negatively impacting the adoption of Bitcoin and directly impairing its utility. He found that a large Bitcoin transaction on a crypto exchange would create massive slippage, driving the price significantly higher or lower. XBTO offered a solution to the exchange liquidity issues, and since then it has become one of the most trusted market makers in the industry.

Thus, XBTO started by addressing one specific issue: the lack of liquidity. In the first years of crypto adoption, there was not enough liquidity to make the promise of cryptocurrency possible.

As Bekhazi points out, there are two things that make cryptocurrencies valuable – one is the security of blockchains, and the second one is having sufficient liquidity to provide transaction value. While it is the job of developers to build decentralized networks with resilient consensus mechanisms and error-free codes, XBTO has constantly made sure that the digital currency market has no shortage of counterparty liquidity.

XBTO serves institutional clients but has had a particularly positive impact on retail trading by improving the broader trading ecosystem. Thanks to XBTO’s services, built upon proprietary technologies and unmatched expertise, crypto exchanges have managed to reduce price volatility and offer better spreads to their customers. One of the first clients of XBTO was Coinsetter, which was later acquired by Kraken. The company quickly rose to the position of a leading market maker, providing liquidity to some of the largest exchanges. 

The overall liquidity of an emerging market directly impacts its growth potential. Market makers like XBTO have played a major role in making digital assets more accessible worldwide.

Crypto exchanges relying on XBTO’s market-making services have had the edge over competitors thanks to the following benefits:

XBTO initially focused on spot exchanges. It eventually started to serve futures and options exchanges as well.

Six years ago, the team was comprised of only three people and acted exclusively as a market maker. Today, XBTO is an established  leader in crypto finance and offers a diversified range of solutions, including platform trading, over-the-counter (OTC) trading, asset management, venture capital (VC), stablecoin operations, crypto mining, and blockchain consulting, among others.

One of the pivotal events in the company’s growth was the appointment of Greg Carson as Head of Corporate Development in 2018. He helped XBTO turn its solid reputation into an entire brand strategy. The company started to add new layers and expand quickly to the point where XBTO is universally recognized as one of the leading players in the crypto industry.

XBTO has become the leader in the almost-elite layer of institutional Bitcoin trading. Although the company is still not as large as some, handling hundreds of billions of dollars in assets, it already plays a major role in the industry, offering a very efficient focus on derivatives, alternative investing, and algorithmic trading.

The end goal of XBTO is the democratization of money. The company has been following this objective by promoting a diverse portfolio of services, which include but are not limited to:

Market making, OTC and block trading – XBTO employs advanced technology and proprietary algorithms to trade cryptocurrencies and crypto derivatives, including futures and options. The company is active in platform trading and over-the-counter (OTC) trading. It has the expertise, technology, and resources to settle trades quickly and efficiently.

Back in 2019, XBTO and crypto fund Galaxy Digital carried out the first-ever block trade of a Bitcoin futures contract on Bakkt, the Bitcoin futures platform launched by NYSE parent Intercontinental Exchange (ICE). This was the first instance of physical delivery of a digital asset under existing US commodity futures laws and regulations.

Earlier in 2021, the Chicago Mercantile Exchange (CME) launched its “Micro Bitcoin” futures product in collaboration with XBTO, and at the beginning of May, brokerage firm ED&F Man Capital Markets executed the first block trade of 140 lots for XBTO and Genesis Trading.

Thus, besides providing liquidity to spot exchanges, XBTO has been at the forefront of derivatives trading, doing business with reputable names like Bakkt and CME. 

Asset Management – XBTO Capital provides asset management services to institutions and high-net-worth individuals (HNWIs). The investment products are customized to meet their specific needs.

According to the latest World Wealth Report by Capgemini, 72% of surveyed HNWIs have invested in cryptocurrencies. The trend has accelerated amid the central banks’ ongoing ultra-easy monetary policies that intensify inflationary pressures, leading to the devaluation of national currencies.

Venture Capital – XBTO Ventures, LLC is an early-stage investor in blockchain and crypto startups. As a rule, the company makes strategic minority investments in seed and Series A rounds. In parallel, the company has developed XBTO Humla Ventures Fund, which enables accredited investors to get exposure to crypto and blockchain’s most transformative trends.

While XBTO Ventures has used internal capital and partners’ money, more institutions and private investors like family offices and HNWIs showed an increased interest in XBTO’s potential. To meet this demand, the company decided to create Humla, which is taking a lot of what XBTO has done with its corporate venture fund and making it available to investors from anywhere in the world.

Humla is helping investors from traditional finance deploy their money efficiently in the crypto space. Through the new venture fund, XBTO is accompanying investors in their journey of taking opportunities in the promises of blockchain and cryptos. Humla has already invested in crypto projects with disruptive potential, including Deribit, Unocoin, Synthetix, Paradigm, Xmargin, Valkyrie, Lukka to name a few. 

Mining – XBTO operates a major crypto mining facility in New York. The company is using renewable energy in the form of hydropower from Niagara Falls.

In addition to the mentioned services, XBTO is a proud supporter of projects like Stablehouse, a stablecoin platform that offers custody, exchange, payment, and earning products. This regulated venture is aimed at institutional investors and offers high yield savings that enable users to earn up to 12% on their stablecoin deposits.

Today, XBTO offers global access to crypto finance through its wide range of services. As fintech entrepreneurs and investors, the team constantly unlocks new opportunities by anticipating the rapidly changing needs of the industry.

Besides its business operations, XBTO puts a great emphasis on promoting digital assets through educational and networking initiatives and encouraging access to accurate information. For example, the company is sponsoring Summer of Bitcoin, is a main sponsor of the Bitcoin Conference, and has partnered with Bitcoin Magazine. 

XBTO Tomorrow: Pursuing the Vision of Democratic Money and Accessible Digital Assets

The future of XBTO is bright – the company will continue to play a key role in making the crypto space a better place for investors and consumers.

XBTO has very high standards on operations and how it grows the team. It is constantly refining offerings to maintain its position as the leader in crypto finance. That means the company aims to become the best trader, investor, and asset manager by deploying capital into the most important rails of Bitcoin and blockchain – the things that make digital assets have real utility.

In only six years, XBTO has managed to expand its business at an impressive pace, although this is not unusual by crypto standards. XBTO’s management aims to grow the business proportionally with the sector. Today, XBTO has offices in New York, Paris, Bermuda, and Miami, and it plans to expand its market presence further. 

So far, the company doesn’t provide any products to retail investors, but this will change in the coming years, as the team becomes more comfortable protecting them from the inherent risks that still persist in the crypto space.

XBTO is going to have a truly global presence sooner than later, due to its ongoing effort to act as an innovator and expand its already massive amount of assets under management.

By cultivating the team to a high standard of success, XBTO aims to become a dominant force in the crypto industry while preserving the promise of decentralization.

XBTO Massive Partnership with Jorge Mas and David Beckham’s Inter Miami CF

XBTO Ventures invests in Valkyrie in April 2021

Valkyrie is a specialty alternative asset management platform providing a wide range of investment services and products. Valkyrie creates and manages bespoke portfolios, including safe exposure to digital assets and other frontier investments. Learn more about Valkyrie 

CME Group’s Micro Bitcoin Futures Open for Trading in collaboration with XBTO in May 2021

The Chicago Mercantile Exchange launched its "Micro Bitcoin" futures product in an attempt to capitalize on bitcoin's price rally this year and build upon the successful launch in 2017 of a regular futures contract for the largest cryptocurrency.

The futures contract was announced in late March but has just opened for trading.

“At one-tenth the size of one bitcoin, micro bitcoin futures will provide an efficient, cost-effective way for a broad array of market participants – from institutions to sophisticated, active traders – to fine-tune their bitcoin exposure and enhance their trading strategies,” Tim McCourt, head of equity index and alternative investment products at CME Group, said in a press release.

“By lowering the barrier of entry, more traders will be able to gain exposure to bitcoin,” said John Bartleman, president of TradeStation Group, the parent company of an online trading platform that will offer clients micro BTC futures.

"At the 6 p.m. open last night, we executed the first block trade of 140 lots for two of our clients – Genesis Trading and XBTO. These smaller right-sized CME micro bitcoin futures contracts will make crypto futures trading more accessible for traders of all sizes," wrote Brooks Dudley, global head of digital assets at brokerage firm ED&F Man Capital Markets.

The CME micro bitcoin futures are cash-settled and based on the CME CF Bitcoin Reference Rate.

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THE FINANCIAL PRODUCTS AND SERVICES IN THE UNITED STATES ARE GENERALLY AVAILABLE ONLY TO ACCREDITED INVESTORS OR ELIGIBLE CONTRACT PARTICIPANTS, AS DEFINED BY U.S. LAW. ADDITIONAL RESTRICTIONS MAY APPLY. XBTO INTERNATIONAL LTD. IS AN INDEPENDENT LICENSEE AND NOT AN AFFILIATE OF XBTO TRADING, LLC.