Oleksandr Lutskevych Founded CEO.IO

How Oleksandr Lutskevych Founded CEO.IO in 2013 After Discussing With His Friends

There are individuals who choose to be outstanding among the numerous average people around the world. One of such excellent personalities is Oleksandr Lutskevych, the founder and CEO of Cex.Io, a London-based group of companies, with subsidiaries including CEX.IO Bitcoin Exchange. The company is one of the major shakers and movers in the world of cryptocurrency.

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There is no doubt that in order to make a mark in this present world, there is a need to think outside the box, a thing which this successful CEO did and today is celebrated for it.

  • Nationality: Ukraine
  • Country of Residence: United Kingdom
  • Career: Technology Entrepreneur, Cryptocurrency Trader

Oleksandr Lutskevych is an innovator and a respected personality in the Bitcoin community. This is not a surprise considering his deep expertise in internet technology businesses.

Even as Lutskevych prefers to live a private life with little or almost no information about his personal life, here are the few things we know about the founder of cex.io

Academic Qualifications:

After his first degree, Oleksandr was at Kyiv National Taras Shevchenko University between 1999 to 2007 to study Cybernetics where he bagged a Master’s degree

As if that wasn’t enough, he earned another Master’s Degree in Finance, Banking, and Insurance at the same institution between 2017 to 2019.

How Oleksandr Lutskevych Founded Cex.Io

In 2018, the tech entrepreneur revealed in an interview that the idea for the establishment of a cryptocurrency exchange was birthed in 2010 when he was discussing with some of his friends about bitcoin.

It was the first time he had about bitcoin and cryptocurrency. That’s how he plunged himself into the ocean of crypto research and how blockchain works.

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Today, Cex.Io is one of the most established global players in the cryptocurrency sector in the United Kingdom and in the world. Cex.Io was established in 2013 to provide cloud mining services. The company kicked off providing mining services to its clients but over time, the company evolved by including other services in its operation including crypto exchange

In so doing, the company has over the years grown into a multi-functional cryptocurrency exchange company and most importantly, play a formidable role as well.

The company over time did not limit its operation to cryptocurrency but soon began to provide cryptocurrencies on its web trading portal, via mobile apps and also using API applications.

This further increase the users base of the company and as such covering a wider range of society worldwide.

Cex.Io differentiate itself from other cryptocurrency companies by offering distinct services such as providing several account types which allow traders to pick out and trade cryptocurrencies using the conditions attached to the account types that match their style.

Interestingly, Cex.Io has a broad coverage with a global presence in almost every country. Presently, the company has over 3 million users scattered across 220 countries and territories. This gives users of various countries the possibility to enjoy the service offered by this company.

In turn, the wide coverage further increases the customer base of the company with millions of users worldwide gaining access to the features provided by Cex.Io.

Unfortunately, there are countries on the exclusion list of the company. This means cryptocurrency users in any of the excluded countries cannot make use of Cex.Io services.

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Legality of cex.io

How Cex.io Conquers the United States

The United States is known to be a pioneer of technology, however, when it comes to digital assets and cryptocurrency, it is one of the toughest jurisdictions. The reason must have been to avoid her residents being scammed of their legitimate earning.

From the initial stage when Cex.Io kick-started, it was not recognized in the United States, while other countries recognize and are enjoying the cryptocurrency services provided by the company. In fact, US traders were not accepted on the CEX.IO exchange due to regulatory restrictions.

As a result of this action, US users and traders were not availed of the variety of services, products, and digital assets.

Interestingly, in 2019, CEX.IO finally launched a dedicated US presence to provide US investors with a variety of services, products, and digital assets. Before this feat, he wrote in March 2017 on coindol.com, pointing out several reasons why bitcoin exchanges must comply with U.S. laws.

The company has since then been given the permission of Money Transmission Licenses in 25 states. Currently, the company operates in 48 states in the US.

Speaking on what excites him about cryptocurrency, cex.io founder was quoted as saying:

“The most exciting about the industry is its growth and unpredictability. It is intriguing how a price can change in a single moment and follow completely other direction.”

And of course, we agreed with him as we saw the price of bitcoin reaching an all-time high of $66,974.77 on October 20, 2021, before shedding thousands of dollars. One bitcoin is $42,639.50 at the time of this report (January 17, 2022)

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Net worth

We couldn’t confirm the net worth of Oleksandr Lutskevych at the time of publication, but with the number of fintech and crypto-based firms under his control, he must be sitting on assets worth billions of US dollars.

Legality of cex.io

Unlike Muhammadu Buhari-led government which restricted trading in virtual currency thereby pushing millions of the crypto community to P2P platforms where Nigerians now buy and sell cryptocurrencies, the UK’s government has regulations in place to protect investors.

As such, CEX.IO has licenses to operate legally in a number of countries where it has offices including the United Kingdom, Gibraltar, United States of America (registered with FinCEN), Ukraine, and Cyprus.

It’s a company that’s regulated

Final Thought

The world has gone digital and gradually does the global currency. Since the inception of bitcoin, many individuals have benefited immensely by launching digital tools that will enhance the use of cryptocurrency.

Lutskevych has maximized the opportunity available in the cryptocurrency community by creating a global cryptocurrency ecosystem popularly known as Cex.Io which includes a market-leading exchange and other services.

His effort has been accompanied by fame and fortune which has landed him among the forerunners of bitcoin today.

References:
  1. Featured Image by Coindol
  2. XTRD (March 8, 2018). “An Interview with Oleksander Lutskevych, CEO of CEX.IO and XTRD Advisor”. medium.com. Retrieved January 17, 2022

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