Lex Sokolin Welcomed to the Advisory Board by CDRX

CDRX just secured the advisory services of a renowned crypto community figure, Lex Sokolin. Apart from being a leading crypto contributor, Lex is also a top contributor for Reuters, CNBC, and Wall Street Journal. CDRX is a project that was started with the aim of changing the way people issue and trade securities. The project is currently being backed by a global hedge fund. Despite this, it has also managed to get critical backing from some of the veterans in the financial industry, e.g., UBS, Goldman Sachs, HSBC, Merrill Lynch, and JP Morgan. Now, the firm has just announced that it has also managed to secure the services of Lex Sokolin.

Lex Sokolin

Lex is one of the most prominent crypto community members around and is a frequent guest speaker at many crypto related events. He has also managed to found a number of startups in the past.

He stated that the crypto community is about to discover ways in which crypto assets are likely to impact the value of investment management, and how this is likely to be beneficial to clients. The solution being proposed by CDRX is likely to help in the digitization of billions in outstanding securities.

If it happens, it could assist in building a modernized infrastructure that will provide opportunities for improved exchange and access. Simply put, this is a solution that can help many people attain the financial goals they have set for themselves, provided that they are given the right instruments, packed in the right manner.

Sokolin is the founder of Autonomous NEXT (a FinTech research practice), AdvisorEngine (a digital wealth platform) and a top voice on the LinkedIn platform. He is expected to bring in his expertise and knowledge to assist the team to further advance the project.

David Ward, the CRDX chief executive, while commenting on this announcement stated that they were thrilled to welcome Lex to the team. He was confident that they would all be able to benefit from his complementary experience, contacts, and industry knowledge. According to him, his acceptance of the advisory role was an endorsement on the project that CDRX was currently undertaking.

Background Information on CDRX

CDRX was created as an innovative FinTech company whose sole goal was to serve as a bridge between the crypto space and the traditional financial markets. It would accomplish this goal by coming up with a tokenization solution as well as by developing an exchange.

At the moment, the company is creating a platform that will be used to tokenize native bonds, existing bonds, equities issuance, as well as be in a position to bring the global securities market to the blockchain platform. The platform is grounded on a new product that is being referred to as CDRs (Crypto Depository Receipts).

It is a platform that blends what is already known of the American Depository Receipts with the latest state-of-the-art blockchain technologies. The CDRs will be issued by custodians using smart contracts and will be backed by the underlying securities. This will mean that the CDR holders will have the same rights as those assigned to the securities purchased using traditional methods.