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.

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.

(By Aoyon Ashraf)