In a move that underscores the shifting tides between traditional finance and digital asset platforms, Crypto.com has appointed Nicolò Pagliari as its new Global Vice President of Growth and Media. Pagliari, a seasoned executive with seven years at Saxo Bank, becomes the second major CFD industry veteran to join the Singapore-based crypto exchange in just two months.

Pagliari’s departure from Saxo, where he most recently served as Head of Marketing for Asia-Pacific, marks a growing trend of talent migration from legacy brokers to crypto and proprietary trading firms. “It took one of those opportunities that you can’t say no to,” Pagliari shared in a LinkedIn post announcing his move.

This latest hire follows Crypto.com’s recent onboarding of Kevin Algeo, former CEO of IG Group, as Senior Vice President of Capital Markets. The company also acquired Cyprus-based Allnew Investments Ltd to secure a MiFID license, signaling its intent to expand into regulated financial products including CFDs for forex and other markets.

Pagliari’s transition is emblematic of a broader industry shift. As crypto platforms diversify their offerings and proprietary trading firms gain traction, traditional CFD brokers are facing mounting pressure. A recent FYI study revealed that 40% of brokers currently have vacant marketing leadership roles, highlighting the competitive squeeze for top-tier talent.

Other notable moves include Michael Kamerman’s appointment as CEO of FTMO’s brokerage division and Riana Chaili’s new role as COO after stints at IC Markets and TechFinancials. Meanwhile, executives like Yassin Mismar, Zoltan Nemeth, and Andreas Andreou have also pivoted to prop firms and crypto ventures.

Crypto.com’s aggressive hiring spree aligns with its push into conventional finance. The firm plans to launch CFD trading in Q3 2025, leveraging its newly acquired MiFID license. “His extensive experience in financial services and regulated markets will be instrumental in our mission to build a full-service and fully regulated suite of financial products,” said Eric Anziani, Crypto.com’s President and COO, referring to Algeo’s appointment.

This strategy mirrors similar moves by competitors. Kraken has launched regulated derivatives trading under MiFID II, while Coinbase acquired Deribit to bolster its derivatives footprint.

The migration of talent reflects deeper structural shifts. Crypto exchanges are acquiring regulated entities to fast-track licensing, while prop firms benefit from lighter regulatory frameworks. Traditional CFD brokers, meanwhile, grapple with tighter rules on leverage and marketing, making the crypto and prop sectors increasingly attractive for executives seeking growth and innovation.

Pagliari will be based in Singapore, leading global user acquisition efforts for Crypto.com, which now boasts over 140 million users. His remit includes campaign development, media partnerships, and team leadership across international markets.

As the executive exodus from traditional brokers continues, the battle for market dominance between legacy finance and digital disruptors is heating up—and Crypto.com is clearly playing to win.

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