The Flow

Finery Markets

Welcome to The Flow by Finery Markets. In this branded podcast series, we dive into the exciting world of institutional crypto trading. Each episode explores the currents shaping the digital asset markets, offering listeners a unique blend of expert insights, industry trends, and forward-thinking strategies. Hosted by Finery Markets' thought leaders and featuring a roster of distinguished guests from across the financial and technological landscapes, The Flow navigates through the complexities of electronic trading infrastructure, regulatory landscapes, and the evolving dynamics of liquidity a

  1. AUG 5

    Why Institutional Crypto Needs ECNs (feat. Konstantin Shulga, Finery Markets)

    In this special episode of The Flow, we flip the script: Nikolai Isayev, Editor-in-Chief of FinanceFeeds, interviews Konstantin Shulga, CEO and Co-Founder of Finery Markets. Together, they explore what it means to be recognized as a top global fintech by CNBC and Deloitte, how Finery Markets has pioneered institutional-grade ECN infrastructure in crypto, and why regions like the US and UAE are key to the future of digital asset adoption. Konstantin shares his perspective on regulatory shifts, the importance of cloud-native infrastructure, and how Finery’s hybrid ECN model gives institutional clients unprecedented access to deep, high-quality liquidity. Whether you're an exchange, broker, or payment company, this conversation reveals why infrastructure — not hype — is driving the next wave of crypto evolution. ⸻The Flow by Finery MarketsIn this branded podcast series, we dive into the exciting world of institutional crypto trading. Each episode explores the currents shaping the digital asset markets, offering listeners a unique blend of expert insights, industry trends, and forward-thinking strategies. Hosted by Finery Markets’ thought leaders and featuring a roster of distinguished guests from across the financial and technological landscapes, The Flow navigates through the complexities of electronic trading infrastructure, regulatory landscapes, and the evolving dynamics of liquidity and market making.⸻About Finery MarketsFinery Markets is a leading ICT solutions provider for institutional digital asset trading, offering a non-custodial crypto ECN and robust trading SaaS. Specifically designed for institutional clients across more than 35 countries, our infrastructure plays a critical role in their operational resilience, enabling secure and transparent digital asset operations. The company offers the first hybrid, crypto-native ECN technology, enabling trading via an order book, RFQ, or quote streams.Since its launch in 2019, Finery Markets has expanded its ecosystem, now serving over 150 digital asset clients—including payment providers, brokers, OTC desks, hedge funds, and custodians. By providing resilient trading infrastructure, Finery Markets enhances capital efficiency, ensures optimal execution, assists in risk management, and simplifies settlement processes, all while supporting clients in meeting regulatory requirements.In 2024, Finery Markets was recognized as one of the top 50 rising stars in the Deloitte Technology Fast 50 competition. The company was named among the Top 300 Fintech Companies by CNBC.Finery Markets is the first crypto ECN to receive the SOC 2 Type 1 certification. ✅ Subscribe to our channel here: ⁠⁠https://www.youtube.com/@FineryMarkets ⁠⁠ ► To join Finery Markets visit ⁠⁠https://finerymarkets.com/⁠⁠ ► Follow us on Twitter: ⁠⁠https://x.com/finerymarkets⁠⁠ ► Find us on LinkedIn: ⁠⁠https://www.linkedin.com/company/finerymarkets/⁠

    46 min
  2. JUL 3

    TradFi Lessons in the Age of Crypto Institutionalization (Feat. Damian Bunce, CEO GTN Middle East)

    In this episode of The Flow, Konstantin Shulga, CEO of Finery Markets, welcomes Damian Bunce, CEO of GTN Middle East, to explore the evolution of capital markets infrastructure and how traditional finance insights are shaping the future of digital assets. With over 30 years of experience across equities, FX, and CFDs, Damian shares stories from his early days at Barings Bank through to leading GTN Middle East, a global B2B2C trading infrastructure provider. The discussion touches on major market structure milestones — from the rise of smart order routing to the proliferation of ECNs — and how embedded finance and infrastructure-as-a-service are becoming the new standard. They also dive into what the crypto world can learn from TradFi, the importance of infrastructure unbundling, and the parallels between current digital asset trends and the electronification of markets two decades ago. About Finery Markets Finery Markets, a premier non-custodial crypto ECN, provides cutting-edge trading infrastructure for institutional players in over 30 countries. We seamlessly connect clients across LATAM, North America, Europe, Asia, and Africa. Our goal is to power trading technology behind world’s leading brokers, exchanges, OTC desks, payment providers and custodians. Since our launch in 2019, we have been growing our ecosystem, serving 100+ digital asset players, including payment providers, brokers, OTC desks, hedge funds, and custodians. We connect digital asset players and provide them with seamless access to a vast network of partners, enabling them to navigate their operations smoothly and efficiently. ✅ Subscribe to our channel here: ⁠https://www.youtube.com/@FineryMarkets ⁠ ► To join Finery Markets visit ⁠https://finerymarkets.com/⁠ ► Follow us on Twitter: ⁠https://x.com/finerymarkets⁠ ► Find us on LinkedIn: ⁠https://www.linkedin.com/company/finerymarkets/⁠

    42 min
  3. JUN 3

    Why Interest Rate Markets Matter in Crypto (feat. Alex Ryvkin, Rho Protocol)

    In this episode of The Flow, Konstantin Shulga, CEO of Finery Markets, sits down with Alex Ryvkin, Founder of Rho Protocol, to explore the world of interest rate markets in crypto and their huge potential. They unpack how interest rates influence everything from perpetual funding rates to staking yields, and why rates products are becoming critical infrastructure for a maturing digital asset market. Alex also shares his journey from traditional finance to crypto, the challenges of building transparent rate markets, and why the next big step for crypto might just revolve around interest rates. About Finery Markets Finery Markets, a premier non-custodial crypto ECN, provides cutting-edge trading infrastructure for institutional players in over 30 countries. We seamlessly connect clients across LATAM, North America, Europe, Asia, and Africa. Our goal is to power trading technology behind world’s leading brokers, exchanges, OTC desks, payment providers and custodians. Since our launch in 2019, we have been growing our ecosystem, serving 100+ digital asset players, including payment providers, brokers, OTC desks, hedge funds, and custodians. We connect digital asset players and provide them with seamless access to a vast network of partners, enabling them to navigate their operations smoothly and efficiently. ✅ Subscribe to our channel here: https://www.youtube.com/@FineryMarkets  ► To join Finery Markets visit https://finerymarkets.com/ ► Follow us on Twitter: https://x.com/finerymarkets ► Find us on LinkedIn: https://www.linkedin.com/company/finerymarkets/

    47 min
  4. MAY 6

    The first crypto-native ECN: from test trade to $35B (feat. CEO & Co-founder Konstantin Shulga)

    Welcome to the second episode of Season 2 of The Flow — the go-to podcast for all things crypto market structure and the people shaping its evolution. This time, we're shaking things up as Leo Hmelnitsky steps into the host's chair to engage in a compelling conversation with Konstantin Shulga, the visionary CEO and co-founder of Finery Markets.In this episode, they cover a range of captivating topics, including:- What it takes to start the journey from traditional trading to the crypto world,- The groundbreaking evolution of ECNs within digital assets,- Navigating the post-FTX era and the surge towards decentralization,- The latest regulatory shifts in the US and EU,- And the unstoppable rise of institutional crypto adoption.A must-watch for anyone serious about the infrastructure side of crypto.🎙 Guests: • Konstantin Shulga — CEO, Finery Markets • Leo Hmelnitsky — Chief Strategy Officer at Spotex, early investor in Finery Markets🔗 Like, comment and subscribe to stay tuned!Books mentioned in the episode: 1. The Fountainhead by Ayn Rand (https://www.goodreads.com/book/show/2122.The_Fountainhead)2. The Flashboys by Michael Lewis (https://www.goodreads.com/book/show/24724602-flash-boys) About Finery Markets Finery Markets is a leading technology provider of non-custodial crypto ECN and trading SaaS, specifically designed for institutional clients across more than 35 countries. The company offers the first hybrid, crypto-native ECN technology, enabling trading via an aggregated order book or RFQ. Since its launch in 2019, Finery Markets has expanded its ecosystem, now serving over 150 digital asset clients—including payment providers, brokers, OTC desks, hedge funds, and custodians. Finery Markets enhances capital efficiency, ensures optimal execution, assists in risk management, and simplifies settlement processes. In 2024, Finery Markets was recognized as one of the top 50 rising stars in the Deloitte Technology Fast 50 competition.✅ Subscribe to our channel here: @FineryMarkets ► To join Finery Markets visit https://finerymarkets.com/ ► Follow us on Twitter: https://x.com/finerymarkets ► Find us on LinkedIn: https://www.linkedin.com/company/finerymarkets/

    33 min
  5. APR 1

    Why Crypto Needs Wall Street's Trading Toolkit (feat. Coinroutes Co-Founder & CRO Mike Holstein)

    In this episode of The Flow podcast, Konstantin Shulga, CEO of Finery Markets, speaks with Mike Holstein, Co-Founder and Chief Revenue Officer of Coinroutes. They discuss how Coinroutes is applying institutional-grade trading tools to the crypto market, Mike’s journey from Wall Street to digital assets, and why derivatives are increasingly dominating the trading landscape. They also explore how Coinroutes builds redundancy, connectivity, and infrastructure to handle crypto’s unique challenges.The Flow by Finery Markets In this branded podcast series, we dive into the exciting world of institutional crypto trading. Each episode explores the currents shaping the digital asset markets, offering listeners a unique blend of expert insights, industry trends, and forward-thinking strategies. Hosted by Finery Markets' thought leaders and featuring a roster of distinguished guests from across the financial and technological landscapes, The Flow navigates through the complexities of electronic trading infrastructure, regulatory landscapes, and the evolving dynamics of liquidity and market making.About Finery Markets Finery Markets, a premier non-custodial crypto ECN, provides cutting-edge trading infrastructure for institutional players in over 30 countries. We seamlessly connect clients across LATAM, North America, Europe, Asia, and Africa. Our goal is to power trading technology behind world's leading brokers, exchanges, OTC desks, payment providers and custodians. Since our launch in 2019, we have been growing our ecosystem, serving 100+ digital asset players, including payment providers, brokers, OTC desks, hedge funds, and custodians. We connect digital asset players and provide them with seamless access to a vast network of partners, enabling them to navigate their operations smoothly and efficiently. ✅ Subscribe to our channel here: @FineryMarkets ► To join Finery Markets visit https://finerymarkets.com/ ► Follow us on Twitter: https://x.com/finerymarkets ► Find us on LinkedIn: https://www.linkedin.com/company/finerymarkets/

    36 min
  6. 10/18/2024

    Building the first regulated crypto exchange in the UK (feat. Archax CEO & Co-founder Graham Rodford)

    In this episode of "The Flow," Konstantin Shulga, CEO and Co-Founder of Finery Markets, sits down with Graham Rodford, CEO and Co-Founder of Archax, to discuss the journey of building the first fully regulated crypto exchange in the UK. Graham shares insights on the challenges of navigating the complexities of regulation, liquidity, and institutional adoption in the crypto market. They explore the future of tokenized assets, the importance of credibility, and how Archax is positioning itself as a leader in digital securities. Books mentioned in the episode: Into Thin Air: A Personal Account of the Mt. Everest Disaster by Jon Krakauer - https://a.co/d/caxu8nf The White Spider by Heinrich Harrer - https://a.co/d/9TmwDZV Feel the Fear and Do It Anyway by Susan Jeffers - https://a.co/d/9GSzzOK The Power of Now: A Guide to Spiritual Enlightenment by Eckhart Tolle - https://a.co/d/a1eDAbj __ The Flow by Finery Markets In this branded podcast series, we dive into the exciting world of institutional crypto trading. Each episode explores the currents shaping the digital asset markets, offering listeners a unique blend of expert insights, industry trends, and forward-thinking strategies. Hosted by Finery Markets' thought leaders and featuring a roster of distinguished guests from across the financial and technological landscapes, The Flow navigates through the complexities of electronic trading infrastructure, regulatory landscapes, and the evolving dynamics of liquidity and market making. __ About Finery Markets Finery Markets, a premier non-custodial crypto ECN, provides cutting-edge trading infrastructure for institutional players in over 30 countries. We seamlessly connect clients across LATAM, North America, Europe, Asia, and Africa. Our goal is to power trading technology behind world's leading brokers, exchanges, OTC desks, payment providers and custodians. Since our launch in 2019, we have been growing our ecosystem, serving 100+ digital asset players, including payment providers, brokers, OTC desks, hedge funds, and custodians. We connect digital asset players and provide them with seamless access to a vast network of partners, enabling them to navigate their operations smoothly and efficiently. ✅Subscribe to our channel here: @FineryMarkets ► To join Finery Markets visit https://finerymarkets.com/ ► Follow us on Twitter: https://x.com/finerymarkets ► Find us on LinkedIn: https://www.linkedin.com/company/finerymarkets/

    1h 6m
  7. 09/19/2024

    Behind crypto trading tech (feat. Gold-i CEO Tom Higgins)

    In this episode of The Flow, host Konstantin Shulga, CEO and Co-Founder of Finery Markets, sits down with Tom Higgins, CEO of Gold-i, to discuss the evolution of trading technology in both FX and crypto markets. Tom reflects on his journey from working in traditional finance to founding Gold-i in 2008, sharing insights on building cutting-edge technology for brokers and liquidity providers. They cover how the FX space has evolved and how similar trends are now shaping the crypto world. Tom and Konstantin explore the challenges posed by crypto’s fragmented market structure, the increasing importance of prime brokerage models, and the difficulties faced by early crypto exchanges in providing reliable liquidity. Tom also shares his views on the future of last-look liquidity, the rise of market makers, and the ways in which technology has had to adapt to meet institutional demands. This episode offers a deep dive into the parallels between the FX and crypto markets, the impact of no-last-look execution, and the ways trading platforms are evolving to meet the growing needs of institutional players. Books mentioned in the episode: 1. The Hitchhiker's Guide to the Galaxy by Douglas Adams 2. No Bullshit Strategy by Alex Smith __ The Flow by Finery Markets In this branded podcast series, we dive into the exciting world of institutional crypto trading. Each episode explores the currents shaping the digital asset markets, offering listeners a unique blend of expert insights, industry trends, and forward-thinking strategies. Hosted by Finery Markets' thought leaders and featuring a roster of distinguished guests from across the financial and technological landscapes, The Flow navigates through the complexities of electronic trading infrastructure, regulatory landscapes, and the evolving dynamics of liquidity and market making. __ About Finery Markets Finery Markets, a premier non-custodial crypto ECN, provides cutting-edge trading infrastructure for institutional players in over 30 countries. We seamlessly connect clients across LATAM, North America, Europe, Asia, and Africa. Our goal is to power trading technology behind world's leading brokers, exchanges, OTC desks, payment providers and custodians. Since our launch in 2019, we have been growing our ecosystem, serving 100+ digital asset players, including payment providers, brokers, OTC desks, hedge funds, and custodians. We connect digital asset players and provide them with seamless access to a vast network of partners, enabling them to navigate their operations smoothly and efficiently. ✅Subscribe to our channel here: @FineryMarkets ► To join Finery Markets visit https://finerymarkets.com/ ► Follow us on Twitter: https://x.com/finerymarkets ► Find us on LinkedIn: https://www.linkedin.com/company/finerymarkets/

    59 min
  8. 08/20/2024

    Decoding The Crypto VC Playbook (Feat. Dragonfly VC Partner Rob Hadick)

    In this episode of The Flow, host Konstantin Shulga, CEO and Co-Founder of Finery Markets, sits down with Rob Hadick, Partner at Dragonfly VC, to explore Rob's journey from traditional finance at Goldman Sachs to the cutting-edge world of cryptocurrency and decentralized finance (DeFi). Rob delves into the post-FTX shift in crypto market structure, emphasizing the rise of hybrid on-chain/off-chain solutions and the ongoing evolution of institutional adoption in the digital assets space. He also shares insights into Dragonfly’s selective investment strategy, touching on the transformative potential of stablecoins, DeFi, and new market structure innovations. Whether you're curious about the future of crypto trading or want to understand the VC perspective on market trends and innovations, this episode delivers expert knowledge and engaging discussion. __ The Flow by Finery Markets In this branded podcast series, we dive into the exciting world of institutional crypto trading. Each episode explores the currents shaping the digital asset markets, offering listeners a unique blend of expert insights, industry trends, and forward-thinking strategies. Hosted by Finery Markets' thought leaders and featuring a roster of distinguished guests from across the financial and technological landscapes, The Flow navigates through the complexities of electronic trading infrastructure, regulatory landscapes, and the evolving dynamics of liquidity and market making. __ About Finery Markets Finery Markets, a premier non-custodial crypto ECN, provides cutting-edge trading infrastructure for institutional players in over 30 countries. We seamlessly connect clients across LATAM, North America, Europe, Asia, and Africa. Our goal is to power trading technology behind world's leading brokers, exchanges, OTC desks, payment providers and custodians. Since our launch in 2019, we have been growing our ecosystem, serving 100+ digital asset players, including payment providers, brokers, OTC desks, hedge funds, and custodians. We connect digital asset players and provide them with seamless access to a vast network of partners, enabling them to navigate their operations smoothly and efficiently.  ► Subscribe to our channel here: / https://www.youtube.com/@FineryMarkets  ► To join Finery Markets visit https://finerymarkets.com/ ► Follow us on Twitter: / https://twitter.com/finerymarkets  ► Find us on LinkedIn: / https://www.linkedin.com/company/finerymarkets/

    1 hr

About

Welcome to The Flow by Finery Markets. In this branded podcast series, we dive into the exciting world of institutional crypto trading. Each episode explores the currents shaping the digital asset markets, offering listeners a unique blend of expert insights, industry trends, and forward-thinking strategies. Hosted by Finery Markets' thought leaders and featuring a roster of distinguished guests from across the financial and technological landscapes, The Flow navigates through the complexities of electronic trading infrastructure, regulatory landscapes, and the evolving dynamics of liquidity a

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