FintekNews is pleased to bring you our new series #BlockchainProfiles – featuring thought leaders within the blockchain and digital currency space. For the third feature in this series, we’d like you to meet Stephen Watkins, CEO of Entrex Capital Market, which was was founded in 2001 to create a capital market system for the $5-250 million annual revenue companies across the United States.
NAME: Stephen H. Watkins
COMPANY: Entrex Capital Market
WEB ADDRESS: www.EntrexCapitalMarket.com
How did you personally become involved in blockchain technology?
- Entrex was founded to offer a capital market for cash-flowing entrepreneurial companies $5 to $250 million in revenues. Our focus was to find a solution for the regional exchanges that were acquired by the nationals. We need a place where the economic and employment sector of the nations economy can access capital.
- We started in 2001 this years before “FinTech” was a term. In 2015 we partnered with tZERO to help trade the first TIGRcub across the Blockchain with Patrick Byrne CEO of Overstock. That became the foundation of us managing over 200 trades fullfilled by our FinTech platform in 2017
What does your firm do/offer within the fintech sector?
- Entrex is the blockchain enabled Capital Market System which originates, structures, offers, places, trades, settles and services securities for entrepreneurial companies. Entrex created the leading capital market system for entrepreneures around out patented and tradable , revenue enhanced, TIGRcub ® Security which stands for a Top-Line Income Generation Rights Certificate. This tradable security we believe aligns Investors and Issuers better than traditional equities of entrepreneurial companies.
What is your role within your firm and what do you do there on any given day?
- I am the CEO and founder of Entrex. I am responsible for the overall Entrex business strategy, development of key stratgeic relationships, marketing strategy and marketing communications.
What are the biggest problems facing the fintech industry in the future?
- First I’d say we have to be careful of all the noise around blockchain. We’re in a very regulated environment and today Entrex has to run a regulatory platform – and a blockchain enabled environment. They are duplicative and unfortunately not interchangeable. Therefore the challenge I see is getting regulators and the administrator comfortable with innovation…. and adopting it!
What has been the biggest success in your firm to date?
- We were fortunate to participate with Overstock.com on their TIGRcub Offering and their use of the blockchain. It was probably one of the first, if not the first blockchain traded security. and being on the phone with the team for hours each day was an incredible learning experience with the best in the industry.
What has been the biggest failure in your firm and how did you adapt?
- I did not foresee the technical challenges of the private securitization process – compared to the efficiency of the public. We had to create technology to Originate, Structure, Offer, Place, Trade, Settle and Service; it became an immense technlogy project, 18 years in the making – but today represents a significant competetive advantage to the firm.
What fintech leader do you admire the most and why?
- Joe Cammarata at tZERO and Patrick Byrne I think led the Wall Street FinTech industry – Patrick’s leadership into the Blockchain sector I believe created a whole environment which will reshape Wall Street – And Joe’s knowledge and leadership on the way Wall Street works through his years in the routing business even back to Datek aligns the best in the business to succeed.
How do you feel consumers (or if more relevant for your firm – businesses) are adapting to the facet of fintech that your company operates within?
- Our goal is to make the fintech transparent to the consumer – they hopefully have no idea what happens behind the curtain. Our vision is to make investing, and liquidating, private equities as simple as public securities.
If you were to personally invest in just one fintech firm (other than yours), which one would it be and why?
- tZERO… I believe is leading the curve in our fintech sector – and most important has the knowledgable talent to manage the obstacles; and there will be many!
Stephen Watkins is CEO Of Entrex Capital Market, and speaks publicly across the nation discussing the creation of an efficient and effective Capital Market System for Entrepreneruial Companies.