Former Capital.com CEO Jon Squires Joins Skilling as Executive Chair

Jon Squires, who stepped down as the Group CEO of Capital.com and Currency.com earlier this year, has joined forex and contracts for differences (CFDs) broker, Skilling as Executive Chairman.

He is based in Cyprus and will be advising the broker on the scaling of its expanding operations.

“It is the perfect time to be joining Skilling at this stage of its expansion,” Squires said in a statement. “The company has been built and led by a highly experienced team, and their foresight into new trends and product scalability Scalability Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain points in transaction processing, relative to other cryptos or traditional payments options. Inherent Scalability Issues with BitcoinBitcoin’s block size limit represents a true bottleneck in its design. This reflects the potential downside of a Proof-of-Work (PoW) system with Bitcoin's consensus protocol.Lags in transaction processing capacity can result in increasing transaction fees and delayed processing of transactions that cannot be fit into a block.This is perhaps one of Bitcoin’s most pressing issues long term, an issue that has since head to the creation of other altcoins or networks to remedy this concern.There have also been many attempts to solve Bitcoin’s scalability problem through software upgrades.Increasing the network's transaction processing limit requires making changes to the technical workings of bitcoin. This is where forks in the network can come into play, be it soft or hard forks.However, forks have resulted in the creation of entirely new cryptocurrency networks such as Bitcoin Cash, among others. Technical optimizations have also been floated to decrease the amount of computing resources required to process and record Bitcoin transactions. Presently there is no consensus on what the best solution to Bitcoin’s scalability is. Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain points in transaction processing, relative to other cryptos or traditional payments options. Inherent Scalability Issues with BitcoinBitcoin’s block size limit represents a true bottleneck in its design. This reflects the potential downside of a Proof-of-Work (PoW) system with Bitcoin's consensus protocol.Lags in transaction processing capacity can result in increasing transaction fees and delayed processing of transactions that cannot be fit into a block.This is perhaps one of Bitcoin’s most pressing issues long term, an issue that has since head to the creation of other altcoins or networks to remedy this concern.There have also been many attempts to solve Bitcoin’s scalability problem through software upgrades.Increasing the network's transaction processing limit requires making changes to the technical workings of bitcoin. This is where forks in the network can come into play, be it soft or hard forks.However, forks have resulted in the creation of entirely new cryptocurrency networks such as Bitcoin Cash, among others. Technical optimizations have also been floated to decrease the amount of computing resources required to process and record Bitcoin transactions. Presently there is no consensus on what the best solution to Bitcoin’s scalability is. Read this Term gives Skilling an unparalleled advantage.”

Squires is a veteran when it comes to the trading industry with two decades of executive experience.

He headed Capital.com and its sister crypto exchange Currency.com for more than a couple of years. After his exit from that brokerage group, former IG CEO, Peter Hetherington took over the charge.

Squires also had a ten months stint at Exness as the Chief Digital Officer.

An Expanding Broker

Now, Skilling is expecting to benefit from his experience and industry-wide exposure to its global growth.

“His impact in previous firms where he worked has helped to swiftly propel the companies from relative newcomers to industry titans,” said Michael Kamerman, CEO of Skilling.

Skilling is also on a hiring streek as the compay added several executives in recent months. It onboarded Ana Cavero as Global Product Head, Daniela Egli as Cyprus Head and Group COO, and David Hodge as Chief Marketing Officer.

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The broker also secured €10 million in seed funding last January for accelerating its global expansion.

“We are confident that with an exceptional product and talented people, Skilling will be the next industry leader to benefit from Jon’s expertise. We welcome him and look forward to his involvement in our company,” Kamerman added.