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Virtu Veteran's New Crypto Market Has a $1 Million Debut

  • AirSwap is a decentralized market that leverages Ethereum
  • Users connect via bulletin boards with their identities masked
Trading On The Floor Of The NYSE As Global Stock Turmoil Persists Amid Rate Jitters
Photographer: Michael Nagle/Bloomberg
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A new decentralized cryptocurrency market co-founded by a veteran of automated trading firm Virtu Financial Inc. handled more than $1 million of transactions on Thursday.

Michael Oved’s company, AirSwap, which began operations Wednesday, probably feels like a contradiction to many on Wall Street: A market with no central place where buyers and sellers gather. Instead, bulletin boards on the company’s website and smart contracts on the Ethereum blockchain let AirSwap users find each other anywhere in the world and trade peer-to-peer, their identities masked.