New Leadership for Sales Push
Mike Diedrichs has joined tZERO Group as Senior Vice President and Head of Sales, a move that signals the company’s shift from platform development to revenue generation. The appointment took effect immediately, with Diedrichs bringing two decades of capital markets experience to the role.
His most recent position was chief revenue officer at Bosonic, where he built institutional sales for the firm’s broker-dealer and alternative trading system focused on digital asset securities. Before that, he spent nearly two years as Chief Operating Officer and Head of Business Development at HyperTrader, where he reportedly tripled the addressable market and increased monthly revenue by 30%.
Focus on Converting Infrastructure to Revenue
CEO Alan Konevsky made it clear that the company’s priority is turning recent operational progress into actual business deals. “As we deliver on the reset strategy, and execute with speed, our core focus is to convert these results into revenue,” Konevsky commented. “That is key.”
The platform has spent recent months upgrading its infrastructure and forming partnerships, including a collaboration with UK-based Archax in October to cross-list digital securities across US, UK and European markets. This hiring decision appears to be part of that broader strategy to capitalize on the growing institutional interest in tokenized securities.
Traditional Finance Roots
Diedrichs began his career in traditional finance, spending seven years at GFI Group where he co-built a natural gas desk that generated between $8 million and $11 million in annual brokerage revenue. His team was recognized as the top natural gas desk by Risk Magazine from 2004 to 2008.
He later managed a structured credit desk at Tradition North America, leading a team of 10 with annual revenue between $8 million and $12 million. At TP ICAP, he reportedly doubled the client base by onboarding more than 50 institutional clients.
Market Context and Recent Developments
The hire comes as institutional money continues flowing into tokenized securities. Tokenized money market funds alone reached $7.4 billion this year, representing an 80% increase as major firms like BlackRock and JPMorgan introduced their own products.
Earlier this month, tZERO launched crypto and stablecoin funding through a partnership with zerohash, allowing investors to deposit digital assets that convert to dollars in their brokerage accounts. The firm also operates one of only two US broker-dealers approved to custody tokenized shares directly on blockchain.
In his new position, Diedrichs will work alongside Evangelos Tzoulafis, Senior Vice President and Head of Execution, to advance partnerships related to tZERO’s three-part strategy around tokenization, trading and connectivity. Alan Swimmer, Executive Vice President and Chief Strategic Relationships Officer, will oversee Diedrichs’s team.
I think this move reflects the maturation of the digital assets space, where companies are shifting from pure technology development to more traditional business growth strategies. The emphasis on sales leadership suggests tZERO believes its infrastructure is now ready for broader market adoption.
