Amber Group's Ex-U.S. CEO Raazi Joins EDG, a Digital-Asset Structured Product Firm

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Enhanced Digital Group (EDG), which is helping bring popular traditional finance (TradFi) instruments known as structured products to crypto, has hired a prominent former TradFi executive as head of U.S. strategy.

The appointment of Cactus Raazi, whose decades-long TradFi career included time at Goldman Sachs and Nomura, was announced in an email statement sent to CoinDesk. Raazi joins after being U.S. CEO of crypto trading firm Amber Group.

"It's a natural next step after leading Amber's expansion in the Western hemisphere, which was focused on regulatory compliance," Raazi said in the statement. "With 25 years of sales and trading leadership experience, in both New York and London, at Goldman Sachs and at startups, I'll be helping the EDG team grow a compliant and dynamic derivatives and structured products business."

Watch: How Structured Product Trading Works in Crypto

Structured products typically combine several financial products like stocks, bonds or derivatives into a single package, and are designed with a specific financial goal: generating income, protecting an investor's capital, etc. Their use in crypto is more evidence of the growing sophistication of the industry as it lures conventional investors.

Last year EDG raised $12.5 million in seed round led by WebN Group (a research-based incubator backed by Alan Howard) and Genesis (which, like CoinDesk, is owned by Digital Currency Group).