Erkin Kamran, the former CEO of Traze, has embarked on a new entrepreneurial journey following his recent resignation. He is now directing his efforts towards the creation of 0xmarkets, an innovative startup aiming to revolutionize the trading landscape for currencies, commodities, and cryptocurrencies through a decentralized exchange model.
0xmarkets is described as a “perpetual decentralized exchange powered by Cartha on Bittensor Network,” which intends to provide significant liquidity to effectively compete with traditional Contract for Difference (CFD) platforms. The concept aims to allow users to trade various financial instruments without intermediaries, promoting greater accessibility and efficiency in the trading process.
In his announcement, Kamran emphasized that this venture seeks to fundamentally change how markets are structured and who they serve. “The next chapter of my journey is about changing that equation. That’s why I’m building 0xMarkets — a decentralized exchange where crypto, currencies, and commodities can be traded without gatekeepers,” he stated, underscoring his vision of a more open trading environment.
Kamran’s departure from Traze fits into a broader narrative of his professional evolution. He previously played a significant role as the Chief Technology Officer at the London-based Zeal Group, and his leadership contributed to Traze’s successful acquisition of a license to operate in the UAE earlier this year. This license provides the broker with the authority to offer brokerage, advisory services, and portfolio management targeted at both retail and institutional investors. Additionally, the company has secured operational permissions in South Africa.
Founded as part of Zeal Group, Traze operates alongside the ZFX brand, which caters to both retail and institutional clients in diverse geographical markets. As Kamran prepares to launch 0xmarkets, he is actively seeking collaboration from professionals within trading and fintech sectors, hinting at a cooperative approach to shaping the future of decentralized finance (DeFi).
Coinciding with Kamran’s transition is the backdrop of significant upheaval in the DeFi space, particularly following a large-scale market downturn in mid-2022 that saw the loss of over $2 trillion in value. The collapse of major projects, such as Terra, and subsequent failures among other high-profile entities have brought attention to the vulnerabilities within the decentralized finance ecosystem. These events have prompted regulators to intensify their scrutiny, as compliance and stability become increasingly prioritized by stakeholders in the industry.
As 0xmarkets prepares to launch, it stands positioned to address some of the challenges faced by existing platforms, promising deep liquidity and a fresh approach to trading that seeks to diminish reliance on traditional financial structures. The future of this venture will likely be closely watched, as it symbolizes not just a new business, but a potential shift towards a more democratized trading environment in the financial sector.
