The CEO of the online trading platform Traze, Erkin Kamran, has announced his departure from the role to pursue a new initiative focused on bridging traditional finance (tradfi) and web3 technology. In a statement, Kamran expressed pride in the achievements of Traze during his tenure, highlighting the rapid growth of the company as a regulated broker in the United Arab Emirates (UAE) and emphasizing the effectiveness of focused execution.
In his announcement shared on social media, Kamran thanked the Traze team for their trust and teamwork, noting, “After careful consideration, I have decided to step down as CEO of Traze.” He further mentioned his future plans, saying, “What’s next: I’m working on a new build at the intersection of tradfi and web3 – still early and in stealth, but will share soon enough. If you’re solving problems in trading or fintech – feel free to reach out; I’m always up for a catch-up be it on product, liquidity, GTM or more.”
Traze operates as a contracts for differences (CFDs) broker under the Seychelles-regulated Zeal Capital Markets brand. Earlier this year, the company obtained a license in the UAE, which positions it to provide brokerage, portfolio management, and advisory services to both retail and institutional investors in the region. Kamran remarked, “This regulatory milestone allows us to continue our aim of making investing more accessible and helping traders with the tools and education they need to succeed.”
In addition to its operations in the UAE, Traze also holds an operational license in South Africa. It is a part of the larger Zeal Group, which operates the ZFX brand from both the United Kingdom and Seychelles, catering to varied client bases. The UK division of Zeal recently concluded its financial year on June 30, 2024, reporting a revenue of £802,437, marking an 81% decline. Nevertheless, net profits rose 41% to £213,344 compared to £151,408 the previous year, with all revenue stemming from brokerage services tied to UK clients.
Erkin Kamran’s background as an industry veteran includes experiences at the London-based fintech company Zeal Group and a role as a Project Manager at Bank of America Merrill Lynch, further solidifying his expertise in the finance and trading sectors. As he transitions from his role at Traze, the industry will be watching closely to see what innovations he brings to the convergence of traditional finance and web3.
