Victor Gherbovet, former CEO of Admirals, recently founded a software-as-a-service (SaaS) technology company that provides services to cryptocurrency exchanges and traditional financial markets.
Victor Gherbovet, former CEO of Admirals, recently founded a software-as-a-service (SaaS) technology company to serve cryptocurrency exchanges and traditional financial markets.。
The new platform, called FirstByt, offers solutions such as cryptocurrency wallets, payment gateways, custody and liquidity.
Gherbovet spent more than 13 years until October 2021 at Admiral Markets Group. According to his LinkedIn profile, he went on to found Eight Capital, a Romania-based company, where he served as CEO for more than two years. The industry veteran has worked at Asito Kapital and EXIMBANK.
Software Development Company
According to LinkedIn, FirstByt has been in development since 2020. The company targets institutional and retail clients and has a presence in Lithuania and Romania.FirstByt's services are categorized into legal, compliance and banking.
Gherbovet mentions: "We have designed a white-label software solution that has been well received by FinTech clients, who like our customer-centric approach, the ease of platform customization, and the continuous improvement of the product."
"Our approach is that the client focuses on business operations while we take care of the entire technology side: software distribution, licensing, regulatory compliance, payment solutions or marketing, and of course, ongoing maintenance."
Experienced Executives
In 2021, Admirals announced the appointment of Gherbovet as co-CEO, marking a significant leadership transition for the company.Gherbovet held a variety of roles during his tenure at Admiral Markets Group, starting in 2008 as director of the Romanian branch and later as regional manager for Eastern Europe.
Meanwhile, Admiral Markets Group recently suspended the registration of new clients in the European Union due to regulatory challenges. In an email to Finance Magnates, the company mentioned that existing clients' trading and investment activities are not affected by this "temporary and voluntary" suspension.
Alexander Tsikhilov, the company's CEO and co-founder, said: "We have temporarily suspended the registration of Admirals Europe Ltd. This decision is related to our efforts to comply and adapt to the recommendations of the CySEC regulator and affects only our activities in EU countries. Our current customer base in Europe remains unchanged and we will continue to ensure that our customers have stable access to our products and services.
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