In an era where financial systems are undergoing historic convergence, few individuals embody the transition from traditional banking to digital assets as comprehensively as Eugene Ng. With nearly 15 years of experience spanning global investment banks, high-growth fintechs, and pioneering cryptocurrency ventures, Eugene Ng represents a new breed of financial professional who navigates both worlds with equal confidence.

A foundation in traditional finance

Eugene Ng’s journey began in traditional finance, where he built a solid foundation working at some of the world’s most prestigious institutions. His career trajectory through Barclays, Deutsche Bank, and Citibank gave him invaluable insights into the inner workings of global financial markets. During his tenure at these institutions, Ng specialized in derivatives trading, where he developed expertise in complex financial instruments and risk management.

“With any new asset class, volatility is something which is not uncommon,” Ng observed in a 2021 interview about cryptocurrency market fluctuations. “You see volatility in many of the very nascent asset classes, the early formative years of asset class.”

His experience at Deutsche Bank proved particularly significant, where he was rated among the top 5% performers within the bank’s Listed Derivatives & Markets Clearing Sales team in Asia. This achievement highlighted his ability to excel in highly competitive environments while managing key relationships with financial institutions, including sovereign wealth funds, pension funds, and regional banks.

The entrepreneurial pivot

Even while climbing the ranks in investment banking, Ng displayed an entrepreneurial spirit that would later define his career. In 2016, while still working at Deutsche Bank, he co-founded Chug, South East Asia’s first subscription-based drinking app. The venture secured partnerships with tech heavyweights like Grab and received significant media attention across Singapore. This early foray into entrepreneurship revealed Ng’s ability to identify innovative business models and execute them successfully.

The experience with Chug proved valuable when Ng made his decisive move into the digital asset space. Having personally invested in cryptocurrencies in 2017, he recognized the transformative potential of blockchain technology and digital assets earlier than many of his peers in traditional finance.

Building bridges between financial worlds

What distinguishes Ng in the crypto landscape is his commitment to bringing institutional credibility and regulatory compliance to the digital asset sector. During his time as Sales & Business Development Director at Matrixport, a Bitmain spin-off, he established relationships with central banks, regulators, government agencies, and financial institutions across Asia Pacific.

“We like regulations. We welcome that,” Ng emphasized during his time leading Gemini’s business development in Asia, reflecting his belief that proper regulatory frameworks are essential for the mainstream adoption of digital assets.

This regulatory-focused approach continued when Ng co-founded OpenEden, a platform focused on real-world asset tokenization. Under his leadership, OpenEden secured partnerships with established financial institutions including Standard Chartered Bank’s Zodia Custody, State Street, Bank of New York Mellon, and Moody’s Ratings. The company also became the first fintech project in Asia to obtain the Bermuda Digital Asset Business Act (DABA) license, representing a significant milestone in regulatory recognition.

Simultaneously, Ng co-founded DWF Labs, which has grown into one of the leading market-making firms in the digital asset space. The firm currently works with more than 700 projects, supporting over 20% of the industry. This dual focus on both regulated asset tokenization and market infrastructure demonstrates Ng’s comprehensive approach to building the digital asset ecosystem.

The case for digital gold

Ng has been a vocal advocate for bitcoin as “digital gold,” articulating a nuanced perspective on how digital assets fit within the broader financial landscape. Rather than positioning bitcoin as a competitor to traditional gold, he sees it as a complementary store of value with unique attributes.

“Bitcoin is the better version of gold. It is the gold 2.0,” Ng explained in a 2021 interview. “Its digital scarcity, its portability and its divisibility — these are three things that gold does not have.”

This perspective reflects Ng’s broader vision of integration rather than replacement when it comes to traditional and digital finance. He doesn’t see digital assets displacing conventional financial systems but rather enhancing them with new capabilities and efficiencies.

Institutional adoption and market evolution

Ng has been particularly attuned to the evolving attitudes of institutional investors toward digital assets. “When I first spoke with institutions six months ago, the response was very lukewarm,” he noted in early 2021. “Fast forward today, they’re actually sending us a lot of inquiries. It’s all in-bound. So that’s really a 180-degrees change.”

This observation highlights Ng’s front-row seat to the institutional adoption wave that has characterized the digital asset market in recent years. His experience working with family offices, sovereign wealth funds, and other institutional players has given him unique insights into how traditional investors approach this new asset class.

“With the innovation that we’re seeing in crypto space today, you don’t just buy bitcoin and hold it, there are so many other use cases,” Ng explained, pointing to the expanding utility of digital assets beyond simple speculation.

Education and leadership

Throughout his career, Ng has demonstrated a commitment to education and mentorship. As a member of Beta Gamma Sigma, an international academic honor society, and holding degrees from prestigious institutions including New York University, Hong Kong University of Science and Technology, and Singapore Management University, he values academic excellence and continuous learning.

This commitment extends to his professional activities, where he has mentored undergraduates and served as a FinTech mentor for NYU Singapore Alumni Chapter. His educational background and mentorship activities reflect his understanding that bridging traditional and digital finance requires not just technological innovation but also knowledge transfer and talent development.

The future of financial integration

As traditional financial institutions increasingly engage with digital assets, professionals like Eugene Ng who can navigate both worlds become increasingly valuable. His career trajectory from derivatives trading at global banks to founding innovative digital asset companies represents the kind of expertise needed to facilitate meaningful integration between these financial paradigms.

The financial landscape is indeed witnessing a historic convergence, creating unprecedented opportunities for innovation, efficiency, and accessibility. Through his work at OpenEden, DWF Labs, and earlier ventures, Ng has positioned himself at the forefront of this transformation, helping to create the infrastructure, partnerships, and regulatory frameworks necessary for sustainable growth.

As the integration between traditional finance and digital assets continues to deepen, Ng’s expertise across both domains exemplifies the multidisciplinary knowledge required to build the financial systems of tomorrow. His journey from Wall Street to Web3 isn’t just a personal career evolution—it’s a roadmap for how the broader financial industry can embrace innovation while maintaining the trust, security, and compliance that are essential to financial stability.

DISCLAIMER: Eugene Ng is no longer affiliated with DWF Labs or OpenEden as of 2024. The information and views expressed in this article reflect his experience during his time with these organizations and do not represent the current operations or positions of either company.

DISCLAIMER – “Views Expressed Disclaimer: This article is not financial advice. Cryptocurrencies are volatile and unpredictable. Due diligence and caution are paramount. Views and opinions expressed are those of the authors and do not reflect the official position of any other author, agency, organization, employer or company, including NEO CYMED PUBLISHING LIMITED, which is the publishing company performing under the name Cyprus-Mail…more