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Automated trader DRW eyes crypto hires in Singapore unit, new China office

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Automated trader DRW eyes crypto hires in Singapore unit, new China office

Bloomberg Published on Thu, Jan 11, 2018 / 3:52 PM GMT+8

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(Jan 11): DRW Holdings LLC, the automated trading firm founded by Don Wilson, plans to add staff at its cryptocurrency unit in Asia and is considering opening an office in mainland China, as it expands into new markets.

The Chicago-based firm, which opened its sole Asian office in Singapore in March 2015, last year hired several locally-based executives from rivals and started a regional cryptocurrency trading desk. DRW plans to boost its Singapore staff to 100 from about 40 within five years and expects to soon add employees at its Cumberland Mining cryptocurrency division.

“There are some natural countries that would require the need for a presence and we’re considering that: China, India and Hong Kong would come to mind,” Brook Teeter, head of Asia, said in an interview.